"A" Rating on Insurance
I recently talked with an agent from Great American Life Insurance about LTCi. I was told this company is rated A. It seems to meet my needs. I would like your opinion on the company.
The reason is because smaller companies don’t have the history and may be mispricing their policies. So a few years down the road they jack the premiums and you’re stuck because to switch companies means the new policy is priced on your condition/age at that time.
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posted by Jeffrey D. Voudrie @ 5:51 PM
3 comments
3 Comments:
An A rating from S&P isn’t that great. AA or AAA is much better. But the real issue is that when it comes to long term care you want to go with one of the largest companies with the longest history of offering it. Genworth and John Hancock are two examples.
Thank you very much for your reply. I did not know about AA or AAA.
There are different rating agencies that use different systems. Standard & Poors is one of the biggest and uses a AAA/AA/A-type system. AAA is best, etc.
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