The Money Advantage Podcast

The Money Advantage Podcast

Life Insurance Company Ratings and Why They Matter Right Now

May 18, 2020

Here's new life insurance company rating information for every wealth creator who wants to be certain that your savings are stable and guaranteed, so you can be sure the financial moves you make to gain safety really are solid and dependable, so you don't lose money or wonder if an economic crisis could collapse the pillar you're depending on.

So here's where we are right now...

We're in uncertain times. So, you're looking for financial guarantees, safety, confidence, and peace of mind. And you've heard that a whole life policy is a good place to store your cash.

But you're wondering ...

How do you know your savings in an insurance policy is secure and safe? How strong is the life insurance industry really? Could my insurer go out of business? What happens in the worst case scenario? And how do I use life insurance company ratings to double-check my life insurance purchase to guarantee I'm making the most secure financial move?

Today, we'll dig deep and answer these astute and pressing questions.

We'll Cover Three Key Life Insurance Company Ratings Insights

* #1 - Compared To Commercial Banks And Investment Firms, The Life Insurance Industry Has A Long History Of Financial Strength Under Pressure* #2 - The Life Insurance Industry Is Highly Regulated To Protect Policyholders* #3 - Insurance Company Ratings Are A Window Into The Soul Of The Company

And, we'll also reveal the radical move the life insurance industry made during the banking holiday of the Great Depression. During one of the worst economic times during American history, insurers sunk the roots of their financial strength even deeper.

But first, let me tell you about a time when ...

A Scary Bridge Taught Me About Verifying Financial Stability

When I was about 14, my Dad, siblings and I saddled up the horses and set off for an adventure. We'd set out a on a new route along our country gravel road, tracing the edge of the neighbor's field. An entrance to a snowmobile and four-wheeling trail beckoned us into an unfamiliar forested section of property. The invitation wasn't unusual, as we'd easily ridden hundreds of miles of trails through the rural Minnesotan woods. But today, as we came into a clearing, there stood a narrow wooden bridge that made us pull up fast.

We had to decide if it was safe to cross.

It was easily 9 feet over the ditch below, and probably 20 feet across. The kind that makes horses jittery and jumpy, and all the riders shake a little in their boots.

The horses snorted, balked and showed the whites of their eyes in protest.

Now walking on a wooden bridge is the equestrian equivalent of beating a hollow drum underfoot. It's one of the top potential obstacles to spook a horse, make them rear up and throw a rider. Or jump and stumble over the edge in fright and panic. It also may have loose or rotten boards the concentrated weight of a horse could easily puncture and fall through.

While most of us voted to turn around, my dad never lost character as the brave one of our crew. He got down, tested the bridge on foot, tried to rock it, stomped around, and kicked at the planks to check for rotten boards. At last, we were pretty confident the bridge would hold. So, we coaxed the lightest, calmest horse across first while holding our breath. Finally, after they crossed without falling through or over the edge, the rest of us followed suit.