1) Has the company been in existence for at least 15 years? Many new start up insurance companies will not be around a couple of years from now. Because of mismanagement, underfunding, and a myriad of other reasons, many smaller insurance companies are struggling to survive. You definitely don’t want to open a term life policy with an insurance company that will no longer be in business when it comes time to pay on the policy, no matter how low the quote may be. The longer the company has been around, the better your chances are of it continuing to stay in business.
2) Does the insurance company have a history of going to court to fight payouts? There are many companies that tend to fight, or try to get out of paying claims. There are many reasons why they can claim the specific wording of a policy says they shouldn’t have to pay out for the death of the policy holder. In other words, the companies can say he or she died the wrong way. Make sure that the company that offered you the low rate quote is not one of these companies.
For help in getting a term life quote that combines low rates with quality coverage, visit the Term Life Insurance Directory
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