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Digital News Report – Besides health insurance some employers provide life insurance for their employees (see the life insurance company rating list below).
If your employer does not offer coverage, ask them to start. The benefits of a group plan were outlined in a recent release from Met Life.
In a statement today the company said that many people are underinsured. Most widows received less than one year’s salary upon the execution of the policy. They recommend to employees that they review their policy on an annual basis to see if they need more coverage.
The Better Business Bureau (BBB) tells Digital News Report that the individual states regulate the insurance industry. The states regulate the well being and health of each company and if there is a problem it is up to the state where the company is headquartered to step in and save it.
Here is a list of the top companies rated by A.M. Best in 2009:
New York Life: A++, stable outlook
Mass Mutual: A++, stable outlook
State Farm: A++, stable outlook
Geico: A++, stable outlook
Life insurance should be a part of your personal finance strategy. “When it comes to insurance, they can rest assured, however, that there are a number of precautions in place to protect them and ensure they remain covered,” said Steve Cox with the Better Business Bureau.
In some instances Wal-Mart and other companies take a policy out on their employee and cash-in when they die. The widows and spouses don’t get the money, but the employer does. This illustrates what a deal life insurance could be.
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The ratings were conducted in July of 2009.
By: Tina Brown