There are many Texas life insurance companies to choose from in addition to the plentiful term insurance plans they can offer. With so much information available, it can be difficult to choose your ideal Texas term insurance plan. The care plan benefits are pretty comparable between most carriers. The basic issues become the length of time you need coverage, the actual amount of life insurance you need, and the premium you will pay for continued insurance and the strength of the company or insurance carrier.

In short, consider these factors when choosing a plan:

1. Term: length of time you need coverage

2. Amount: how much actual life insurance you need

3. Premium: price you will pay to ensure the policy

4. Strength: carrier needs to be “strong enough” to cover the term that you need How to Evaluate Term Life Companies

In this generation, there are numerous Texas carriers that are supported by decades of experience, considerable reserves, and strong ratings. To find the right policy, you need to be educated on your different options and the companies who offer them. Here’s quick look at evaluating term life companies: Carrier ratings for companies are provided on our website and can be found by using our instant quote. When you run our instant Texas term life quote, the rating agency’s grade for that carrier is shown next to each plan. Rating agencies are composed of highly respected experts in the field who rate various insurance carriers using their own scale. They are all a bit different and tend to vary in opinion enough that you should really pay attention to the range of ratings. You might see something like this:

AM Best: A++ (1)

S&P: AA+ (2)

Moody’s: Aa1 (2)

Fitch: AA+ (2)

Each agency has its own standards, rating scale, population of rated companies, and distribution of companies across its scale. Some agencies will use numbers, plusses, and minuses to indicate minor variations in rating.

It is important you pay attention and understand each agency’s rating scale. For example, an A+ from A.M. Best is the second highest rating of its 15 categories, but an A+ from S&P is only the 5th highest out of 19 categories. To simplify it all, the ratings can be classified into “secure” and “vulnerable” mega-categories. As of 2008, here are the rating scales for each of the “secure” and “vulnerable” rating classes combined. (Source, except for Weiss: The Insurance Forum, September 2008 issue)

INSERT RATING TABLE

At etermlifeinsurancequote.com, we feel it is our duty to provide a thorough view of agency ratings so that you can clearly visualize your best option. We show multiple rating agencies next to each plan so comparison is an easy task. Many online term life quote providers do not show multiple agencies, which makes you more susceptible to a poor plan.

Now that you are clear on how to evaluate term life insurance carriers, you ready to run your instant term life insurance quote! We are confident this will lead you in the right direction to finding the perfect plan for you.

Tim Jarvis is a licensed and experienced Texas life insurance agent who focuses on educating his fellow Texans on the best way to shop and quote Texas life insurance coverage