Speak with an experienced advisor! 415-294-5454 Speak with an experienced advisor! 415-294-5454A Financial Strength Rating, sometimes abbreviated as FSR and occasionally IFSRs are a measure of an insurers ability to meet ongoing claims. This is extremely important in life insurance and annuities because nobody wants to buy a life insurance policy if the insurance company will not be able to pay the death benefit or a insurance contract once the benefit is due.
Financial Strength Ratings are often confused with Credit Ratings. This is likely due to the fact that Financial Strength Ratings are done by Credit Rating Agencies.
The Big Credit Ratings that do Financial Strength Ratings are: S&P, Moodys, Fitch, and insurer rating specialist AM Best. Each rating agency has their own method and scale and are independent of each other.
Financial Strength Ratings are also done on other insurers such as property, causality, auto, health, and others.
It is recommended that you always check the financial strength rating (FSR) of any insurance company that you are considering purchasing insurance from. This is extremely important especially for life insurance.
Written by Scott W Johnson
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Written by Scott W Johnson
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