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Forum
-> Inquiries & Offers
-> New York related Inquiries
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amother
OP
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 Fri, Sep 20 2019, 1:03 pm
| jd1212 wrote: | | ....... Choosing a company that has strong ratings mitigates a lot of this risk. |
What’s the likelihood of a company like Mass Murual going belly up? Which companies are stronger than Mass Mutual? Does this apply to term life as well, where if a company goes belly up you can probably switch to another company if health didn’t deteriorate?
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jd1212
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Sat, Sep 21 2019, 9:55 pm
| amother [ OP ] wrote: | | OP here. Can the experts please tell us what we should be asking about that’s in the fine print of the different policies that those who are not life insurance experts are clueless about, that could be a difference in a claim ch”v. |
The fine print is pretty uniform- all American policies by law have a two year exclusion for claim due to suicide R’L and 2 year period where they could contest any material omissions of health (like if someone lies that he’s not a smoker when he smokes a pack a day and dies of lung cancer fewer than 2 years later. After 2 years they can’t contest anymore.
Do you have a broker that you trust? They should be able to answer these questions. There are lots of considerations when buying life insurance about how much and what type makes sense for your family, not just what Google says or someone who knows nothing about you finances can tell you.
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amother
Papaya
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Sat, Sep 21 2019, 10:01 pm
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OP - did you seek financial advice regarding getting this policy in the first place?
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jd1212
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Sun, Sep 22 2019, 12:25 am
| amother [ OP ] wrote: | | What’s the likelihood of a company like Mass Murual going belly up? Which companies are stronger than Mass Mutual? Does this apply to term life as well, where if a company goes belly up you can probably switch to another company if health didn’t deteriorate? |
Armageddon-level. It has a better financial credit rating than the US government. Mass Mutual, Guardian, NY Life, Northwestern Mutual are the strongest companies.
But to be honest and perfectly respectful- I’d love to help you, OP, but I ask you to see that this is my full-time parnassah and I prefer not to give full advising in a forum like this. I often spend hours meeting or on calls with my clients before they make their decision. Please feel free to PM me if you’d like to discuss more.
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