How Do I Check Up On A Company’s Financial Strength?
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UPDATED: Jul 16, 2021
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A. M. Best Company, Moody’s Investor Service, Standard & Poor’s, Duff & Phelps, and Weiss Research are providers of financial information and ratings for life insurance companies. The A. M. Best book for life companies is available in many libraries or you can go to its web site (ambest.com). Each service uses a different rating scheme, but you should read the ratings definitions for that service. Stick with companies that meet the service’s criteria for being in the top categories–such as “excellent” or “very good.” If you use Weiss Research’s ratings, you may find them a bit lower than the others as they tend to be tougher graders. Also, be sure that any ratings you use have not been changed since the publication date of the source. You should look for update sheets or call the rating company to be sure.