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Genworth Life Insurance Company or Wester Reserve Life? For term life insurance ? Thank you!?

Hi I am deciding between these two companies. I have tree babies and want to make sure they will be OK if something happen to me. I got quotes for 30 years term coverage 300,000 either 19.95 with Wester Reserve Life or 21.01 with Genworth Life Insurance Company. I understand the Genworth is GE (which is big company so that is plus) I also read they are in some kind of financial crisis. I am in CA and I believe the state should cover 300.000 for the company if they go bankropsy. Which of these is safer? Also I have two question. If I have life insurance does it mean they have to do authopsy if I die? Also is it problem I don't know health history of my mother? To much I ask. Thank you for any answer. Kat

Public Comments

1. They're both good...GE is an A-rated carrier. Also, being term insurance it's not like you have your retirement tied up with the company. Since the premiums are guaranteed you'd be protected if the company sold the business to another, so you're fine. Here's their ratings... http://www.genworth.com/content/genworth/www_genworth_com/web/corporate/en/about_genworth/corp_company_ratings.html I just had a client in my office today and we're putting $1.25 million with Western Reserve and $500k with GE. in 20 and 30 year term policies respectively. Insurance companies just need your death certificate. No autopsy would ever be required by an insurance company.
2. They are both good companies. It seems like a matter of personal preference at this point. The other questions are good questions for your agent. Congratulations on making this decision. Just to clarify. Genworth is not owned by GE. GE has not owned any of its shares since 2006. http://www.nytimes.com/2006/02/28/business/28electric.html?_r=1 Western Reserve is owned by Aegon. http://www.aegonins.com/membercompanies.aspx
3. Genworth is a good company. I have $1,000,000 with Genworth. I am staying where I am. Good rating, good price.