No, there can be differences. When evaluating policies, keep these things in mind:
- Your carrier should be a reputable insurance company with solid financial ratings from at least two independent ratings services like A.M. Best, Moody’s, Weiss, or Standard & Poor’s.
- It should score at least 80 from Comdex, a composite ranking of the major insurance ratings services.
- The policy should have a guaranteed level premium over the period of time you have selected — not all policies have one.
- The amount of life insurance coverage you need varies from person to person and depends on factors such as your age, income, and number of dependents you have.