What Criteria Should Someone Use When Evaluating Annuity Carriers Beyond Just the Rate
This educational video provides guidance on selecting a reliable annuity carrier by focusing on key evaluation criteria. The speaker emphasizes the critical importance of assessing a carrier's financial strength and claims-paying ability, particularly in the current economic environment. They discuss the role of rating agencies like A.M. Best in providing accurate assessments of insurance companies, noting that while ratings aren't always definitive, they offer valuable insights since agencies conduct thorough evaluations by gathering information directly from insurance companies. The content concludes with advice to choose an insurance provider that instills confidence, especially regarding their financial stability.
Video Transcript
So some of the things you should take a look at when trying to figure out what a good annuity carrier would be for sure is the financial strength and the claims paying ability of those carriers. It's very, very important, especially in today's environment. Other things to consider are their ratings. And ratings aren't always the end all be all, but many rating agencies view it differently. A. M. Best, as an example, would go into the insurance company and gather the information so it's as accurate as you possibly can be. You always want to look for an insurance company or provider that you feel comfortable with, especially when it comes to that financial strain.
