August 22nd, 2012

The Best Way to Choose a Life Insurance Company

7 Comments | Twitter | |

 

life insurance movement

There are lots of insurance products out there, but that doesn’t mean you need all of them.

We’ve talked before about the types of insurance you need. Not surprisingly, life insurance is one of them, especially if you have dependents.

Life insurance comes in handy for things like funeral expenses, debt repayment and regular income for your dependents.

Think about it this way: The average funeral can cost upwards of $10,000. A life insurance policy can cover that cost so you won’t have to leave it to your dependents to figure out how to handle it. They’ll be thankful because they won’t need to go into debt to pay for your funeral.

But before choosing a life insurance policy, you have to decide which company to go with. How do you do that?

The Best Way to Choose a Life Insurance Company

Don’t rely on speculation or guess-work when it comes to choosing the right insurance company for you. Instead, take a look at what other consumers say about the companies you’re interested in by reading life insurance reviews.

Credit Karma’s financial reviews section has more than 40 insurance companies, and many of those have been reviewed by people just like you.

For instance, check out this five-star review for State Farm Life Insurance:

“My husband and I both ended up qualifying for a really good rate even though he has a rare lung disease. The staff was so great working with us and my agent made a lot of time to go over what exactly we were signing up for.” (Reviewed by Jetaimemochien.)

Help Others Make the Right Choice

If you already have an insurance policy, or have had experience with one or more insurance companies, why not help other consumers make this tough decision? Write a review for your insurance company, credit card, bank, credit union, and any other financial products you have to help other consumers make well-informed decisions.

The Life Insurance Movement

Want more great life insurance reading? Jeff of Good Financial Cents is hosting the Life Insurance Movement today to help consumers become more aware of the importance of having a life insurance policy.

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Disclaimer: All information posted to this site was accurate at the time of its initial publication. Efforts have been made to keep the content up to date and accurate. However, Credit Karma does not make any guarantees about the accuracy or completeness of the information provided. For complete details of any products mentioned, visit bank or issuer website.

7 Comments

  1. Honestly i really don’t think that your credit score is correct becaunse i know f or a fact my score is not what you say it is. What’s the game you’re playing?

    maurice at 6:58 pm on August 22, 2012
  2. We’re not playing any games. You actually have multiple credit scores, not just one. Credit scores will vary based on credit bureau, what type of credit you’re applying for (mortgage, auto loan, credit card) and more. That’s why Credit Karma doesn’t just show you a number; we also show you the factors influencing your credit score, your current accounts on your credit report and more. It’s more important to focus on these factors, rather than just a three-digit number.

    If you’re curious to read more about credit score differences, the CFPB did a report on it. Check it out here. Thanks for the comment!

    bethy at 9:42 am on August 23, 2012
  3. Life insurance comes in handy for things like funeral expenses, debt repayment and regular income for your dependents

    life insurance quotes canada at 10:29 pm on August 24, 2012
  4. Having life insurance policy is one of the best ways to get secure. People looking for lic information may get various sites, specialists and agents providing a very beneficial information.

    Gauri

    Lic Plans Information at 1:45 am on December 3, 2012
  5. Creditkarma, along with AM Best and others, is certainly a great tool to check life insurance company ratings. Financial stability is crucial when choosing a life insurance company. You need to make sure they’ll be around to pay out your full death benefit.

    Thomas Rockford at 6:30 pm on January 20, 2014
  6. Definitely worth reading! It is indeed important to have life insurance. Life insurance is not really expensive, which means there’s no excuse to why you can’t get coverage now! It’s always good to know that money will be available to protect your loved ones in the event of your passing. Thanks for sharing this!

    state farm philadelphia at 2:25 am on May 29, 2014
  7. I definitely agree with reading a companies reviews, and it also helps to work with an independent agency that has experience working with all the companies and can place you with one that specifically fits your needs

    Sean Dudayev at 3:23 pm on August 18, 2014

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