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Rating System In Life Insurance

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Rating System In Life Insurance

Rating System In Life Insurance

If you are in the process of selecting a life insurance policy, you need to consider the rating of the life insurance company. It is true that the price takes a major role in the selection process, but pegging your selection solely on the lowest cost available does not make it the right decision. There are different rating systems available that are reliable and are easily accessible online. One has to know the basics to decode the rating system.

Overview of life insurance ratings

The different rating agencies evaluate the financial condition of a life insurance company and find a score about the company. There are some top rating agencies doing the scoring, with each having a slightly different system. The article “Rating the Company” on the Personal Finance web by Kiplinger tells that one should limit themselves to insurers with an A++ or A+ rating from A.M. Best, and from Weiss, it should be B or above and from Standard & Poor's Moody's or Duff & Phelps, it should be a minimum of AA. The following list shows the rating system to evaluate an insurance company:

A. M. Best
  • Superior A++, A+
  • Excellent A, A--
  • Very Good B++, B+
  • Fair B, B--
  • Marginal C++, C+
  • Weak C, C--
  • Poor D
  • Under regulatory supervision E
  • In liquidation F
  • Rating suspended S
MOODY'S
  • Exceptional Aaa
  • Excellent Aa1, Aa2, Aa3
  • Good A1, A2, A3
  • Adequate Baa1, Baa2, Baa3
  • Questionable Ba1, Ba2, Ba3
  • Poor B1, B2, B3
  • Very Poor Caa1, Caa2, Caa3
  • Extremely Poor Ca
  • Lowest C
STANDARD & POOR'S
  • Superior A++, A+
  • Excellent, A, A--
  • Very Good B ++, B+
  • Fair B, B--
  • Marginal C++, C+
  • Weak C, C--
  • Poor D
  • Under regulatory supervision E
  • In Liquidation F
  • Rating suspended S

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