Phil,who has enjoyed perfect health throughout his life,has determined that he needs a $1,000,000 30-year level term life insurance policy and is trying to choose the insurance company from which to purchase the policy.He predicts that his family will need the coverage for about 30 years.What should be the most important factor is Phil's decision of which insurance company to use?

Question

Quizplus · Accepted Answer

The most important factor in Phil's decision should be the financial strength of the insurance company. This ensures that the company will have the ability to pay out the policy benefits in the unlikely event of Phil's death. Price, cash value build up, underwriting service, and claim service are also important factors to consider, but the financial strength should be the top priority.

Phil,who Has Enjoyed Perfect Health Throughout His Life,has Determined That