5 factors to help you choose the right life insurance company
Choosing the best life insurance company can feel overwhelming with so many options available. But don’t worry, it’s simpler than you might think. Here’s how to find the right company for you and your family, ensuring you get the protection and peace of mind you deserve.
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Financial wellness
The primary reason for buying life insurance is to ensure your loved ones are financially secure. Therefore, the life insurance company you choose must also be financially sound. Look for ratings from independent agencies like AM Best, which evaluates the financial strength of insurance companies. An A rating indicates a trustworthy and stable company. At SBLI, we’re proud to have consistently earned high ratings, demonstrating our long-standing financial stability since 1907.
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Products offered
Life insurance comes in two main types: term life and permanent life. Term life insurance is straightforward and affordable, making it a popular choice. Permanent life insurance, like whole life insurance, offers lifelong coverage and additional benefits. It’s wise to choose a company that specializes in life insurance, ensuring you get expert advice and a policy tailored to your needs. At SBLI, our primary focus is on life insurance, offering both term and whole life options to suit your situation.
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Customer Satisfaction
Experience matters. Companies that have been around for over a century, like SBLI, often understand how to serve their customers well. However, it’s important to verify this by checking customer satisfaction ratings from organizations like the Better Business Bureau. At SBLI, we actively seek feedback through our customer happiness initiative to ensure we’re meeting our customers’ needs. Always ask for real customer reviews and a Net Promoter Score (NPS) to gauge satisfaction with any company you consider.
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Cost of coverage
While competitive pricing is important, the lowest cost isn’t always the best value. Look for a company that offers fair and competitive rates without compromising on service. At SBLI, our rates are always fair and competitive, reflecting our commitment to providing the best value and ensuring you can rely on us to be there for your loved ones.
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Who Owns the Company?
Ownership structure can impact how a company prioritizes its customers. Mutual life insurance companies are owned by policyholders, meaning decisions are made with your best interests in mind, not shareholders. This focus ensures better customer service and more favorable policy terms. Since 1907, SBLI has been dedicated to serving our policyholders, not Wall Street investors, always putting our customer-families first.
At SBLI, we’re here to guide you every step of the way, ensuring you find the right life insurance policy to protect your loved ones. Get a quote today and experience the SBLI difference.
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