No one wants to waste precious time thinking about how their death will affect their loved ones. Unfortunately, there is a certain amount of planning that needs to take place in order to ensure your family will be financially stable without you. Choosing the right insurance company can help you make informed decisions about life insurance, so you don’t have to worry. How do you find the best insurance company for term life insurance?
Top Term Life Insurance Companies
When looking for the best insurance company for term life insurance, start by looking for companies that meet certain criteria. You may also want to consider whole life insurance or find out how you can change your term life insurance policy into a permanent plan. Top whole and term life insurance companies will have the following things in common.
Stability
Choose from term and whole life insurance companies that have been in business for a long time. Whether the business is large or small is of little importance compared with longevity. You want to be sure you are committing to a company that will still be reliable when you pass away.
Reviews
Check out whole and term life insurance reviews online and ask your friends and family about their experiences with insurance companies. Pay attention to how the company resolves problems from bad reviews to get a better idea of how they do business. Good reviews are nice, but not always informative.
Credit Rating
You can also check company websites for more information. If a company has earned an accreditation or award, or been recognized in some way, they will usually display it proudly on their homepage.
For example, when you look at the website for Pacific Wealth Solutions, you will see that they partner with MassMutual. From there, you could even check MassMutual term life insurance reviews along with Pacific Wealth Solutions.
Credit rating agencies, such as A.M. Best and S&P, assess companies and rate them based on credibility and financial strength. Mass Mutual is an AA+ rated insurance carrier. This means they are rated as high as the US Treasury (as shown below), and have earned one of the highest possible ratings from qualified agencies.
Options
If you are just diving into the pool of life insurance options, you may need a provider who offers several types of plans. If you already know what type of plan you are looking for, find out if there are variations. For example, term life insurance options often include 10 year, 20 year, or 30 year plans. You may also qualify for whole life insurance, which remains active as long as you are alive, rather than expiring after a certain time period. In some cases, you can even convert an existing term life insurance plan into whole life insurance, or plan to do so in the future. Ask your insurance agent if this is an option for you, and if so, make sure you are aware of any specific timelines or parameters.
Cost & Benefits
Your insurance company can help you determine which plan has the best premiums for you, but it is always a good idea to know your budget beforehand. Find the plan with the highest payout that fits within your affordable monthly premium range. It is also helpful to compare rates among several companies to make sure you are getting the best rate.
It is also helpful to work with a financial advisor if possible. This way, you will have guidance from someone with experience in planning for future financial stability. They will have a more thorough understanding of how different insurance plans work and how each one will suit your individual circumstances.
MassMutual & Pacific Wealth Solutions
Pacific Wealth Solutions can provide you with several options, including plans from MassMutual, a trusted and respected provider among the top term life insurance companies.
It’s time to start prepping for your family’s future. Request a free quote for both term life and permanent life insurance to begin the simple, no-medical-exam-required application process!
Term Life Application Steps
Step 1: Apply Now
We will take you to the Coverpath term life page
Fill out the “Get a quote” questionnaire and click “Apply Now.”
Step 2: Create an account.
Manage your policies and investment accounts.
Get help from MassMutual directly, or you can always contact PWS via live chat or email on our website.
Set preferences and notifications. Get helpful financial resources.
Step 3: Submit the application.
Sign in to your account and finish your application.
Submit the application and wait for the approval.
Permanent Life Application Steps
Step 1: Apply Now
Navigate to the Permanent Life Insurance page.
Click “Apply Now” and fill out the questionnaire.
After the questionnaire is filled out, we will send you a customized link to continue the process. That’s it!
Start planning for your future and apply for permanent life insurance.