|
|
| *Ostroff, Fair and Company>>>Insurance |
I need references for good whole life insurance company? |
I need references for good whole life insurance company? Whole life insurance is the worst type of life insurance out there. They build cash value, but rate of return on them are very low. Plus, if you wanted to use it for anything, you have to borrow the cash value as a loan or cancel the policy. If you were to die, your beneficiary will only get the death benefit and the company keeps all the cash value. Source(s): http://obe231.blogspot.com go to insureme.com state farm insurance is good Go to A.M. Best web site. They rate insurance companies. So does standard and Poor's and Moody"s Northwestern Mutual Financial Network Northwestern is the only company that has received the highest ratings from all four ratings services. (Am Best, S&P, Moodys, Fitch) Dividend interest rate- 7.5% (highest in the industry) 20 year average- 8.62% (highest in the industry) 30 year average- over 9% (highest in the industry) Dividend payout- 2005- 3.9 billion 2006- 4.2 billion 2007- 4.65 billion (all highest in the industry) Lowest lapse ratio's in the industry Extremely high investment return Lowest expenses in the industry Lowest mortality in the industry Fortune magazines annual (for the past 20 years) survey of American life insurers has ranked Northwestern #1 every year it has conducted the survey. It should be noted that this survey is done among it's peers, so the competition believes they are the best. Fortune started the worldwide survey about 10 years ago, again, Northwestern has been ranked the Best in the World every year by its peers. Northwestern is one of the few mutual insurers left, meaning it shares its profits with its policy holders, not stock holders. They have been in business for 150 years, since 1857. Check them out at www.nmfn.com, and if you need an agent, email me back! Only Northwestern agents are allowed to sell Northwestern products. Check out the ratings services and call your state insurance commissioner to ask them about the ratings and what they mean. This is a purchase you are going to have to live with for the rest of your life, think it through carefully. Hope this helps You will want to look at a quality mutual company that is at least 100 years old. The key to whole life from a mutual company is dividends, which are a return of premium and are not taxable. Be sure you ask your agent before you buy if the company she/he represents utilizes DIRECT RECOGNITION when determinining dividends payable to you. It can dramatically affect the illustration, and if you take out a policy loan or withdraw cash, it will seriously hurt the amount of dividends you are set to recieve! Do not price shop an important decision like this, leave that to shopping for plasma tvs. You want to align yourself with a quality company and an agent you can trust. Talk to your friends, and happy hunting! |
| Tags |
| Personal Finance Investing Insurance Credit Corporations |
Finance Categories--Copyright/IP Policy--Contact Webmaster |