In this episode, we continue our series titled "Giving Scrutiny to Your Business Continuity." We start off by discussing the importance of choosing the right insurance company to secure our financial future. With billions of dollars in corporate bonds defaulting in the past and the potential insolvency of major life insurers, it is crucial to conduct thorough research and not rely solely on an insurance salesperson's opinion.

To evaluate an insurance company's financial strength, we should check the ratings provided by reputable rating services such as Moody's, Standard and Poor, and A. M. Best. These agencies assign ratings based on the company's financial stability and performance. In February 1991, Moody's and Standard and Poor's highest AAA ratings were given to only a fraction of North American life insurers, while A. M. Best's top A+ rating was given to 259 insurers. However, even with these statistics, choosing the right insurer can still be a complex process.

Ultimately, the decision of which insurance carrier to choose will have a long-lasting impact on one's personal and business planning. It is essential to prioritize quality and security, especially when dealing with substantial insurance amounts. By conducting careful research and consulting with professionals, like Steve Garry and New York Life, we can ensure that we make the best decision to protect our financial future.