Life Insurance Company Financial Ratings for structured settlement markets

This is the listing of life companies CURRENTLY writing structured settlement annuity contracts as of March 30th, 2009.

Company Name                              AM Best Rating           S&P Rating              Current as of date:

Allstate Life                                                A+, XV                 AA-                           3-10-09

AI Life of NY (AIG)                                      A, XV                    A +                           3-10-09

American General                                      A, XV                    A +                           3-10-09

Hartford Life                                              A, XV                    A                              3-10-09

John Hancock                                            A+, XV               AA+                            7-15-09

Liberty Life                                                A, X                      A-                             3-10-09

Metropolitan Life                                       A+, XV                 AA-                            3-10-09

New York Life                                           A++, XV               AAA                            3-10-09

Pacific Life                                                A+, XV                  AA-                            3-10-09

Prudential Life                                          A+, XV                 AA-                             3-10-09

Symetra Life                                             A, XIII                   A                              3-10-09

The important issue to watch is the trend or direction of ratings. As we update these when events warrant or changes are made, we will indicate if the trend is favorable or unfavorable or neutral.

Also, when selecting a company for a structured settlement, be aware that they all come with qualified assignments and different guarantees from parent companies, depending on the particular firm. These assignments, guarantees and promises are subject to change in a fast changing financial environment where life markets can be sold to another company, property casualty arms can be dissolved or sold and who you started with might not end up being who you finish with.

Look at the duration of the deal, the stability and size of the company and work with a professional who can assist you in making these choices and evaluations.

Comments

[life insurance girl]

I have noticed lately that there are alot of concerns about life insurance policies and the fact that you have to keep them for at least a year or whatever the term says before you can actually bank on the policy. So if you get a life insurance policy and you die in 2 weeks, then you do not get the life insurance payoff because you died too fast (no matter what the reason is). It is important to check out the life insurance company you are going to be dealing with on this aspect.

[John Darer]

A Contestable period defines a measure of time during which a life or health insurance company can protect itself from material misstatements made in an insurance application.

More detailed explanation including how the concept is encapsulated in a classic movie scene can be found by following this link:

http://structuredsettlements.typepad.com/structured_settlements_4r/2009/08/life-insurance-policy-contestable-period.html

[Rob]

Thank you for publishing this chart. It has most of the major life insurance companies. It is always good to compare your friend's recommendation of a life insurance company with its financial stability rating.

kind regards,

Rob / PRR
<a href='http://productreviewratings.com/2009/11/best-life-insurance-rates/'>Best Life Insurance Rates</a>