Saving You Money For Life

There are thousands of companies sell life insurance. So how do you choose one that is right for you? Here are some tips to help you:

Choose a company in good financial health: You want to know that you can rely on the company to meet their obligations to you if something should happen. The best way to check the financial health of a company is by looking at its ´´rating.” There are a number of ways in which to evaluate the financial strength, performance, and integrity of a life insurance company. At AccuQuote, we maintain a database of financial information about hundreds of life insurance companies. We only monitor the rates from insurance companies with a proven track record of financial strength, integrity, performance, and claims-paying ability. And, before quoting any company, we require that it have a rating of A, A+, or A++ by A. M. Best, the country’s most recognized insurance company rating organization.

More after the jump…

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After forty years of toe-tapping waiting for a federal effort to control health care costs, the Commonwealth of Massachusetts has taken matters into its own hands. The state recently passed a health care reform law that created the Commonwealth Insurance Connector Authority, which is charged with developing a program to provide health insurance to the half million state residents who currently lack coverage.

The Authority is seeking to create a state operated health care program; their target premium for individuals is $300 per month. There are rules governing premium ceilings for state residents with low income levels and the goal is to create health care coverage within everyone’s reach, working in conjunction with the Medicare and Medicaid.

At the initial meeting of the Authority on June 7, the members heard testimony discussing various methods of economizing, including limiting access to certain facilities. One witness cited as an example the fact that Massachusetts General charges $5,300 for delivery of a premature baby while Mount Auburn Hospital in Cambridge charges $1,800 for the same service. The point was raised, however, that location of services is important and many people depend on Mass General as their local health care facility.

A tip of the hat to Massachusetts for taking on an issue that has been at a national impasse for decades. It won’t be easy and their solution won’t be perfect, but at least they’re trying.

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