Insurance Policy and Company Selection

Free CFP Exam lesson in Risk Management and Insurance Planning. 19 min read, ~2,811 words.

Net payment cost index = keep until death; Surrender cost index = may cancel. Lower is better for both. AM Best is the only insurance-specific rating agency; A- or above is the recommendation threshold. 1035 exchange hierarchy: life-to-life, life-to-annuity, annuity-to-annuity, annuity-to-life is prohibited. Replacement resets the 2-year contestability period and...