What are COMDEX scores for all times insurance coverage corporations?


Here is the Scoop

  • COMDEX scores for all times insurance coverage corporations compile monetary power scores from a number of the largest insurance coverage firm ranking companies to make it simpler to grasp 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 ranking, the higher an organization’s monetary power

When you’ve ever tried to study selecting one of many finest life insurance coverage corporations, you’ve in all probability heard concerning the significance of economic power scores when choosing a coverage. Nevertheless, discovering an organization’s monetary power ranking could also be sophisticated and complicated, particularly with the various variations between ranking companies’ strategies.

To make it simpler for shoppers and insurance coverage brokers, EbixLife developed the COMDEX scores to compile monetary power scores from main ranking companies. Nevertheless, for those who’re questioning, “What’s a COMDEX ranking on life insurance coverage?” you’re not alone.

Maintain studying under to study COMDEX scores, what they imply, the way to discover them, and why it’s vital to grasp 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 important insurance coverage ranking companies to create a percentile rating.

It averages the scores from a number of the largest monetary power ranking companies, together with A.M. Finest, Moody’s, Fitch, and Customary & Poor’s. Due to this fact, an insurance coverage firm will need to have scores from not less than two of those companies earlier than receiving a COMDEX ranking.

By utilizing the opposite companies’ scores, the COMDEX ranking 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 grasp 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 ranking 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 probably don’t need to spend an excessive amount of time looking a number of web sites to see every company’s ranking. As well as, it may be difficult to grasp every company’s ranking methodology.

Due to this fact, COMDEX scores are calculated by EbixLife utilizing VitalSigns software program. The scores are recalculated each few weeks or extra usually for large insurers. EbixLife can compile tons of data from every company to see which percentile an insurance coverage firm suits into based on every company. The percentiles are then averaged to calculate the COMDEX ranking.

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

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

Why are monetary power scores vital?

Whenever 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 property and supplies your life insurance coverage beneficiaries with the demise profit you paid for. Due to this fact, whenever you’re purchasing round, it may be useful to analysis an organization’s monetary power earlier than shopping for from them.

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

Nevertheless, it may be difficult to grasp the scores from every of those companies. It could even take a subscription to entry the knowledge needed to find out an organization’s monetary power. However, the COMDEX ranking is less complicated to grasp, compiles knowledge from a number of sources, and is simple to search out on-line.

How can I determine an organization’s COMDEX ranking?

Sadly, VitalSigns is out there 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’s not broadly obtainable.

Nevertheless, many web sites and blogs on-line will present lists of some top-ranking corporations with their corresponding COMDEX ranking. Merely do an internet seek for “COMDEX scores,” and also you’re more likely to discover a couple of completely different lists which were up to date not too long ago.

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Who has the very best COMDEX ranking?

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

As we talked about above, COMDEX scores can change each few weeks. Due to this fact, it could be useful to debate any adjustments with an insurance coverage agent that has entry to present studies.

Researching a number of life insurance coverage corporations can take effort and time. Nevertheless, in the long term, it’s price 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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Melissa Morris

Professor of Vitamin & Kinesiology

Melissa Morris has a BS and MS in train science and a doctorate in instructional management. She is an ACSM licensed train physiologist and an ISSN licensed sports activities nutritionist. She teaches diet and utilized kinesiology on the College of Tampa.
She has been featured on Yahoo, HuffPost, Eat This, Bulletproof, Vitacost, LIVESTRONG, Toast Fried, The Trusty Spotter, Finest Comp…

Professor of Vitamin & Kinesiology

Justin Wright

Licensed Insurance coverage Agent

Justin Wright has been a licensed insurance coverage dealer for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin began his profession as a professor, educating Philosophy and Ethics. Later, Justin obtained each his Property & Casualty license and his Life and Well being license and commenced working for State Farm and Allstate.
In 2020, Justin started working as an i…

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