Interested in Life Insurance and Need to Check a Rating from Moodys?
Don't Trust the ISFR from your insurance agent?
Buying a Term Life policy for thirty years and want to make sure the company is secure?
If you are considering buying any form of insurance, life, or otherwise it is imperative that you check the Financial Strength Rating from at least two rating agencies. These reasons for this are numerous. Don't be fooled into thinking the FSR (or Financial Strength Rating) does not matter, because...
It Does Matter.
And it matter a lot. So much so, that you should not even consider deciding on a life insurer without knowing this information. In some respects - the FSR number is as important as the premium and the coverage amounts.
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The World of Life Insurance is Complex, Don't Get Lost.
Below is the simple four step process to check the Financial Strength Rating with one of the big three credit rating agencies: Moodys.
First Step to Check a Financial Strength Rating with Moody's
Second Step to Check a Financial Strength Rating with Moody's
Click on Register and fully register for their free service.
Third Step to Check a Financial Strength Rating with Moody's
Login in with your new login credentials.
Fourth Step to Check a Financial Strength Rating with Moody's
Type the name of the insurance company that you wish to research into the white space near the very top of Moody's site. Click "Go".
If you would like to see a live demonstration of how this is done, please kindly watch the video from youtube below.
Moody's Full rating scale can be seen and downloaded direct from their website here. Please fully read and understand the Moody's grading scale as it is important.
Some other general points of guidance include:
- Check multiple rating agencies, as in more than one.
- Always compare two different companies from the same rating agency.
- Don't trust the listed rating from anyone other than the actual rating agencies.
- Check current Financial Strength Ratings and past Ratings. As in the history of it.
About Whole Vs Term Life Insurance
Whole Vs Term Life was created with the idea that the world of life insurance is complex and people are often lost. We aim to help our clients make their own decisions through education and personal service. Don't be scared into not purchasing the life insurance that your family needs, just because its so confusing. Contact us, we are here to help!
When evaluating a company, you also want to check its company financial rating.