Senior Life Insurance Company Rating?

[go4life]

Hello everyone!
After doing research on FE insurance market, I found one company name Senior Life Insurance having very good premium rates. But, I'm very worry of this company rating not showed up on AM Best, Stardard & Poors ....Do you have any ideas or recommendation, please give me some advices. Thanks so much in advance.
Tony

 

[theinsuranceman]

Does the rating even matter? Wasn't it AIG just a few yrs. ago who had trouble with an A rating?

 

[0b1kanobee]

Does the rating even matter? Wasn't it AIG just a few yrs. ago who had trouble with an A rating?

I think the rating matters now more than ever. Not caring about the ratings of a company now just because oversight was lose is like throwing out the baby with the bath water.

That would be like finding a group of gas stations which were putting in different octane than they said they were. Are we supposed to not give a flip now and just go with the cheapest because we really don't know for certain what gas we are getting from this point forward?

Or should we rely on the fact and that is ratings companies aren't playing games anymore and even the U.S. government just got a downgrade and could get another.

The point is ratings aren't everything but shouldn't be cast aside as irrelevant, especially from this point forward.

 

[go4life]

Does the rating even matter? Wasn't it AIG just a few yrs. ago who had trouble with an A rating?

I believed that big and long history good rating companies are always better. That's the reason why AM Best , Standard & Poors, Fitch....do. I still refer A rating companies for my clients. It makes me more confident.

 

[senior-advisor-indiana]

Does the rating even matter? Wasn't it AIG just a few yrs. ago who had trouble with an A rating?

Nice counter... So what is the rating?

 

[jdeasy]

I don't believe they are rated. And, as for having good rates? Who in the world did you compare them to?

Ratings are very important. I won't write life insurance for a company that's not A rated.

Also, if you are going to write for a company that's not A rated better check your E&O. Some won't cover you if you write for companies that are below an A rating. Some extend that to B rated.

 

[go4life]

I don't believe they are rated. And, as for having good rates? Who in the world did you compare them to?

Ratings are very important. I won't write life insurance for a company that's not A rated.

Also, if you are going to write for a company that's not A rated better check your E&O. Some won't cover you if you write for companies that are below an A rating. Some extend that to B rated.

Thanks so much for your information on E & O. I forgot to mention of this issue.

 

[triggerpuller1]

I would never work with Senior Life.

 

[moonlightandmargaritas]

I would never work with Senior Life.

Good to know. That alone will probably be enough to bring 'em down...

 

[rousemark]

Does the rating even matter? Wasn't it AIG just a few yrs. ago who had trouble with an A rating?

The insurance subsidiaries were not in trouble.
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I don't believe they are rated. And, as for having good rates? Who in the world did you compare them to?

Ratings are very important. I won't write life insurance for a company that's not A rated.

Also, if you are going to write for a company that's not A rated better check your E&O. Some won't cover you if you write for companies that are below an A rating. Some extend that to B rated.

E&O will cover you for normal type claims resulting from using a company with less than an A rating. The only claims they would not cover would be claims arising from the insolvency of the company.