When looking to buy life insurance, how do you choose a company? Start by asking the right questions. Selecting a financial professional requires careful consideration and is especially true when you purchase a product with a long-term obligation such as life insurance. You want to feel confident that the company you choose can provide the security, experience and professionalism required to meet your needs. Following are a few questions to take into account:

1. Is the company financially sound?

Look for a company that has demonstrated financial strength as judged by major rating agencies such as AM Best, S&P 500, Weiss and Moody’s. This is important because the financial ratings reflect the life insurance company's ability to pay claims in the future. Also look for any change in ratings from year to year which is a good indication of a company’s stability.

2. How long has the company been selling life insurance?

With longevity comes exposure to a wide variety of situations and an understanding that one size does not fit all. A company with years of experience will be better able to help you find a life insurance solution that works for you and your family.

3. What can the company offer me?

Companies have different terms and pricing depending on each policyholder’s situation.

Some carriers are able to offer up to a $1,000,000 term policy with no medical exam. Others offer benefits such as online financial tools or programs that encourage and reward a healthy lifestyle.

4. What will I be required to do?

Ask about medical exams and the application process, which may include certain required steps. You should also ask how long it typically takes to get a decision on your application.

5. What about customer support?

Good customer support is essential. It reinforces your faith in a company and makes you feel like you are important to them. You want to make sure that the carrier will have an ongoing focus on your situation to ensure a smooth and easy experience from the time your application is submitted to when you receive your policy contract. Ask if the company offers phone support and online tools and services that make managing your life insurance policy as easy as possible.

Now that you’ve had a chance to ask some questions, feel free to contact a John Hancock Coverage Coach who will put together a no-obligation assessment of your needs.