What are COMDEX rankings for all times insurance coverage corporations?

Here’s the Scoop

  • COMDEX rankings for all times insurance coverage corporations compile monetary energy rankings from among the largest insurance coverage firm score businesses to make it simpler to grasp an organization’s monetary energy
  • COMDEX rankings 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 increased the COMDEX score, the higher an organization’s monetary energy

If you’ve ever tried to find out about selecting probably the greatest life insurance coverage corporations, you’ve in all probability heard in regards to the significance of monetary energy rankings when choosing a coverage. However, discovering an organization’s monetary energy score could also be sophisticated and complicated, particularly with the numerous variations between score businesses’ strategies.

To make it simpler for customers and insurance coverage brokers, EbixLife developed the COMDEX rankings to compile monetary energy rankings from main score businesses. However, when you’re questioning, “What is a COMDEX score on life insurance coverage?” you’re not alone.

Keep studying beneath to find out about COMDEX rankings, what they imply, the best way to discover them, and why it’s necessary to grasp monetary energy rankings earlier than shopping for a coverage.

What are COMDEX rankings for all times insurance coverage corporations?

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

It averages the scores from among the largest monetary energy score businesses, together with A.M. Best, Moody’s, Fitch, and Standard & Poor’s. Therefore, an insurance coverage firm should have rankings from at the very least two of those businesses earlier than receiving a COMDEX score.

By utilizing the opposite businesses’ rankings, the COMDEX score produces a rating between 1 and 100. The increased the rating, the upper the insurance coverage firm’s monetary energy.

The COMDEX can typically make it simpler for customers to grasp the monetary energy 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 rankings calculated?

COMDEX rankings are comparatively simple to calculate, however on a regular basis customers most definitely don’t wish to spend an excessive amount of time looking a number of web sites to see every company’s score. In addition, it may be difficult to grasp every company’s score technique.

Therefore, COMDEX rankings are calculated by EbixLife utilizing VitalSigns software program. The scores are recalculated each few weeks or extra typically for large insurers. EbixLife can compile tons of knowledge from every company to see which percentile an insurance coverage firm suits into in keeping with 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. Best, eighty fifth percentile from Moody’s, and eightieth percentile from Standard & Poor’s, you’ll merely add 90+85+80 and divide by three to get a COMDEX score of 85.

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

Why are monetary energy rankings necessary?

When 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 dying profit you paid for. Therefore, once you’re procuring round, it may be useful to analysis an organization’s monetary energy earlier than shopping for from them.

The businesses listed above (A.M. Best, Moody’s, Fitch, and Standard & Poor’s) price insurance coverage corporations based mostly on their monetary energy, together with creditworthiness, asset administration, profitability, income forecasts, and extra.

However, it may be difficult to grasp the rankings from every of those businesses. It might even take a subscription to entry the data mandatory to find out an organization’s monetary energy. On the opposite hand, the COMDEX score is less complicated to grasp, compiles knowledge from a number of sources, and is simple to seek out on-line.

How can I determine an organization’s COMDEX score?

Unfortunately, VitalSigns is out there solely to insurance coverage brokers and brokers promoting insurance coverage insurance policies. While they will present a model of the software program on their web site for particular person clients, it’s not broadly out there.

However, many web sites and blogs on-line will present lists of some top-ranking corporations with their corresponding COMDEX score. Simply do a web-based seek for “COMDEX rankings,” and also you’re prone to discover a couple of completely different lists which have been up to date lately.

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Who has the best COMDEX score?

COMDEX rankings might change over time, however here’s a listing of some high life insurance coverage by 2021 COMDEX rankings:

Top 25 Life Insurance Companies by 2021 COMDEX Ratings

Company COMDEX Rating
Northwestern Mutual Life Insurance Company 100
New York Life Insurance Company 100
Berkshire Hathaway Life of NE 100
Teachers Insurance & Annuity Association 100
USAA Life Insurance Company 99
TIAA-CREF Life Insurance Company 99
Berkshire Life Insurance Company of America 99
Massachusetts Mutual Life Insurance 98
State Farm Life Insurance Company 98
Guardian Life Insurance Company of America 98
Knights of Columbus 98
Great-West Life & Annuity 97
Sun Life & Health Insurance Company 97
Minnesota Life Insurance Company 96
American United Life Insurance Company 96
Western & Southern Life Insurance Company 96
Integrity Life Insurance Company 96
State Life Insurance Company 96
Lafayette Life Insurance Company 96
Columbus Life Insurance Company 96
Securian Life Insurance Company 96
Metropolitan Life Insurance Company 95
Prudential Insurance Company of America 95
Pruco Life Insurance Company 95
Pruco Life Insurance Company of NJ 95

As we talked about above, COMDEX rankings can change each few weeks. Therefore, it might 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. However, in the long term, it’s price it to make sure you’re selecting an organization that can present peace of thoughts and monetary help for you and your loved ones.

Editorial Guidelines: We are a free on-line useful resource for anybody concerned about studying extra about insurance coverage. Our purpose is to be an goal, third-party useful resource for every little thing insurance coverage associated. We replace our web site usually, and all content material is reviewed by insurance coverage consultants.

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 diet and utilized kinesiology on the University of Tampa.
She has been featured on Yahoo, HuffPost, Eat This, Bulletproof, Vitacost, LIVESTRONG, Toast Fried, The Trusty Spotter, Best Comp…

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Written by

Melissa Morris
Professor of Nutrition & Kinesiology
Melissa Morris

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, throughout which era 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 Health and AD&D insurance coverage as properly. She has labored for small well being insu…

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Reviewed by

Rachael Brennan

Licensed Insurance Agent

Rachael Brennan

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