Tips for Choosing Good Insurance Company

What is the criteria of good insurance companies, which suits your needs?

Here are some tips you should learn before you decide to buy insurance,:

1. Company Financial Reports

Most of all you must know as a reference material is Finance Reports Loss / Insurance Corporate profits, it is very necessary to be a starting point to choose insurance. The indicator is the RBC (Risk Based Capital) or Solvability rate, or in terms of banking known as the CAR (Capital Adequat Ratio) Capital Adequacy Ratio.

A good insurance company must have at least 120 percent of RBC, RBC is advised to have above 200%, because it is more secure. Then look at the net equity (own capital divided by net premium). A good insurance should have a net equity above 50 percent and gross equity above 20 percent.

Check the quality of corporate earnings, how is trend of recent years? This determines the quality of underwriting company policy and do not forget to also check its operational cost.
Excessive operating expenses will erode corporate profits. Dig deeper information

2. Track Record and Management Company
After a concise list of choices while under financial reports to go on finding information about the insurance company.

We recommend you to select insurance companies that in the ranking of 10th in the world, however this is more secure because investment in insurance is for the long term. The bigger companies will be more secure for its customers.

Ask colleagues or family, research all over the internet. Pick a credible insurance agent and understand your insurance needs. Ask him to answer honestly what the advantages and disadvantages of products, company size and reputation and track record, reputation management company managers, and reinsurance conducted or its main reinsurer. Try to consider visiting an insurance company branches that you will choose. The atmosphere in the office will appear with a direct view of its branches.

3. Quality Service
Do a survey around you, asking the insurance company's service will be an option. Ask the detail how the procedures of claims handling, ease of any given case and whether the risk of later claims received as promised in the policy, and the quality of knowledge and ability in explaining the agents one at a clause / rules.


4. Calculate Your Protection Needs, and Make a Note
The next step is to calculate how much actual demand (target) protection, which is certainly different from one person to another. Insurance needs calculator, record the name and address of insurance, policy number, value death benefit, the beneficiary, the insurance agent's name and telephone, the policy effective date, and location of initial policy.



5. Choose Compatible Products
Although insurance companies are well chosen but if the type of policy purchased does not match any result in the payment of claims, thus it will not giving any benefit for your financial goals. So, make sure the selected type of insurance to fit your needs. Find an insurance provider that offers the cheapest product price for the protection you need. Consider carefully whether you should buy term life insurance (term), or whole life (endowment),

Do not buy because of the offer of premium discounts or other seductive, choose to buy insurance policies from agents who are educated and trained, and well known personally about the product. Research (products and insurance companies) before you buy! Make Sure Tomorrow Will Be Better.