How To Choose the Right Life Insurance Company for You - 3

Strength of the company's finances is another thing to think about. Will the company be able to pay your beneficiary the death benefit when you die? One way to figure this out is to look at the financial rating of the company. 

A credit rating score is given by a number of rating agencies, such as AM Best. A credit rating is a sign from the rating agency about how likely it is that a company will not pay its debts.

The better a company's credit rating, the less likely it is that it will not pay its debts. AM Best has given A or better credit ratings to all of the companies in our rating.

A high credit score can show that a company is financially stable and will probably still be around when you die to pay your beneficiary the death benefit.

Depending on the insurance company and the type of coverage you want, you may be able to apply for and buy a policy online in just a few minutes.

This is possible with Bestow ad Haven Life, two companies in our list. In other cases, like with State Farm, you might be able to start the application process online but have to talk to an agent to finish.

Read our How to Buy Life Insurance guide to learn more about how to choose a life insurance company.

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