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What are COMDEX scores for all times insurance coverage corporations?

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Melissa Morris has a BS and MS in train science and a doctorate in academic management. She is an ACSM licensed train physiologist and an ISSN licensed sports activities nutritionist. She teaches vitamin and utilized kinesiology on the College of Tampa.
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Rachael Brennan has been working within the insurance coverage trade since 2006 when she started working as a licensed insurance coverage consultant for twenty first Century Insurance coverage, throughout which period she earned her Property and Casualty license in all 50 states.
After a number of years she expanded her insurance coverage experience, incomes her license in Well being and AD&D insurance coverage as effectively. She has labored for small well being insu…

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Rachael Brennan


Licensed Insurance coverage Agent

Rachael Brennan

UPDATED: Apr 24, 2022

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This is the Scoop

  • COMDEX scores for all times insurance coverage corporations compile monetary power scores from a few of the greatest insurance coverage firm score businesses to make it simpler to know an organization’s monetary power
  • COMDEX scores are expressed in a rating from 1 to 100 that signifies which percentile an organization is in in comparison with different insurance coverage corporations
  • The upper the COMDEX score, the higher an organization’s monetary power

For those who’ve ever tried to study selecting one of many greatest life insurance coverage corporations, you’ve in all probability heard in regards to the significance of economic power scores when deciding on a coverage. Nonetheless, discovering an organization’s monetary power score could also be sophisticated and complicated, particularly with the variations between score businesses’ strategies.

To make it simpler for shoppers and insurance coverage brokers, EbixLife developed the COMDEX scores to compile monetary power scores from main score businesses. Nonetheless, in the event you’re questioning, “What’s a COMDEX score on life insurance coverage?” you’re not alone.

Hold studying under to study COMDEX scores, what they imply, find out how to discover them, and why it’s essential to know monetary power scores earlier than shopping for a coverage.

What are COMDEX scores for all times insurance coverage corporations?

COMDEX scores are used to measure an insurance coverage firm’s monetary power. COMDEX (which stands for composite index) combines the scores from vital insurance coverage score businesses to create a percentile rating.

It averages the scores from a few of the greatest monetary power score businesses, together with A.M. Greatest, Moody’s, Fitch, and Customary & Poor’s. Subsequently, an insurance coverage firm will need to have scores from a minimum of two of those businesses earlier than receiving a COMDEX score.

Through the use of the opposite businesses’ scores, the COMDEX score produces a rating between 1 and 100. The upper the rating, the upper the insurance coverage firm’s monetary power.

The COMDEX can generally make it simpler for customers to know the monetary power of an insurance coverage firm as a result of the rating correlates with the percentile to which the corporate belongs. For instance, if an insurance coverage firm has a COMDEX score of 85, it’s financially stronger than 85% of the opposite corporations.

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How are COMDEX scores calculated?

COMDEX scores are comparatively straightforward to calculate, however on a regular basis shoppers most certainly don’t need to spend an excessive amount of time looking out a number of web sites to see every company’s score. As well as, it may be difficult to know every company’s score technique.

Subsequently, COMDEX scores are calculated by EbixLife utilizing VitalSigns software program. The scores are recalculated each few weeks or extra typically for giant insurers. EbixLife can compile tons of knowledge from every company to see which percentile an insurance coverage firm suits into in response to every company. The percentiles are then averaged to calculate the COMDEX score.

For instance, if an insurance coverage firm is within the ninetieth percentile from A.M. Greatest, eighty fifth percentile from Moody’s, and eightieth percentile from Customary & Poor’s, you’ll merely add 90+85+80 and divide by three to get a COMDEX score of 85.

Moreover, the COMDEX score of 85 implies that the insurance coverage firm has a greater monetary power score than 85% of the opposite insurance coverage corporations.

Why are monetary power scores essential?

If you’re trying to find a life insurance coverage firm, it’s important to make sure you’re shopping for a coverage from an organization that may adequately handle its belongings and gives your life insurance coverage beneficiaries with the loss of life profit you paid for. Subsequently, while you’re purchasing round, it may be useful to analysis an organization’s monetary power earlier than shopping for from them.

The businesses listed above (A.M. Greatest, Moody’s, Fitch, and Customary & Poor’s) charge insurance coverage corporations primarily based on their monetary power, together with creditworthiness, asset administration, profitability, income forecasts, and extra.

Nonetheless, it may be difficult to know the scores from every of those businesses. It might even take a subscription to entry the knowledge crucial to find out an organization’s monetary power. However, the COMDEX score is less complicated to know, compiles information from a number of sources, and is straightforward to search out on-line.

How can I work out an organization’s COMDEX score?

Sadly, VitalSigns is offered solely to insurance coverage brokers and brokers promoting insurance coverage insurance policies. Whereas they’ll present a model of the software program on their web site for particular person clients, it isn’t extensively obtainable.

Nonetheless, many web sites and blogs on-line will present lists of some top-ranking corporations with their corresponding COMDEX score. Merely do a web-based seek for “COMDEX scores,” and also you’re more likely to discover just a few totally different lists which were up to date lately.

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Who has the very best COMDEX score?

COMDEX scores could change over time, however here’s a listing of some prime life insurance coverage by 2021 COMDEX scores:

High 25 Life Insurance coverage Corporations by 2021 COMDEX Scores

Firm COMDEX Ranking
Northwestern Mutual Life Insurance coverage Firm 100
New York Life Insurance coverage Firm 100
Berkshire Hathaway Lifetime of NE 100
Academics Insurance coverage & Annuity Affiliation 100
USAA Life Insurance coverage Firm 99
TIAA-CREF Life Insurance coverage Firm 99
Berkshire Life Insurance coverage Firm of America 99
Massachusetts Mutual Life Insurance coverage 98
State Farm Life Insurance coverage Firm 98
Guardian Life Insurance coverage Firm of America 98
Knights of Columbus 98
Nice-West Life & Annuity 97
Solar Life & Well being Insurance coverage Firm 97
Minnesota Life Insurance coverage Firm 96
American United Life Insurance coverage Firm 96
Western & Southern Life Insurance coverage Firm 96
Integrity Life Insurance coverage Firm 96
State Life Insurance coverage Firm 96
Lafayette Life Insurance coverage Firm 96
Columbus Life Insurance coverage Firm 96
Securian Life Insurance coverage Firm 96
Metropolitan Life Insurance coverage Firm 95
Prudential Insurance coverage Firm of America 95
Pruco Life Insurance coverage Firm 95
Pruco Life Insurance coverage Firm of NJ 95

As we talked about above, COMDEX scores can change each few weeks. Subsequently, it could be useful to debate any modifications with an insurance coverage agent that has entry to present stories.

Researching a number of life insurance coverage corporations can take effort and time. Nonetheless, in the long term, it’s value it to make sure you’re selecting an organization that may present peace of thoughts and monetary help for you and your loved ones.

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