Choosing an Insurance Carrier in a Bad Economy

Stating that the U.S. economy is in shambles would be no surprise to anyone these days. The best rule of thumb is choose a carrier that has been around for many years and maintains a high rating with the AM Best reporting agency. If an insurance company has a lower rating than B+, take a pass. This holds true if your looking for health, life or property & casualty type insurance products.

How to Purchase Health Insurance the Smart Way

Purchasing health insurance is similar to purchasing other forms of products. You must do your homework before you sign on the dotted line. The first step is to speak with an experienced agent and have him or her explain the different plan designs such as traditional PPOs and HSA Health Savings Accounts. Make sure you feel comfortable which the potential carrier you are going to apply with. Make sure your carrier of choice has an A-rating with the AM Best reporting agency. It is a good idea to ask for a side by side comparison of the carriers plan benefits so you can see what company stacks up the best in benefit vs. premium cost. Last but not least, make sure you can comfortably afford the premium each month so your policy does not lapse due to the fact you cannot afford this monthly expense any longer. This same philosophy also applies to purchasing life insurance also.