Life Insurance after carrier downgraded to B++??

September 24, 2016 12:06 PM

I have a term life insurance policy with Genworth, and recently got notified that this company was downgraded to a B++ by the rating agency. I know you aren't my lawyer, insurance broker, or investment advisor, and I will contact these people for specific advice for me. But in general, does this downgrade of the company mean that the policy is likely to be worthless? Should I look for another company?
posted by jasper411 to Work & Money (3 answers total)

All your disclaimers and junk, of course. I used to work with life insurance quite a lot, and the guy I worked with once told me that the industry would never let policies go down the tubes because it would wreak havoc on the industry.
posted by jpe at 12:33 PM on September 24, 2016

How insurance companies are rated
posted by Michele in California at 12:37 PM on September 24, 2016

Best answer: States guarantee policies up to a certain dollar amount depending on your state. More info here.
posted by LoveHam at 5:54 PM on September 24, 2016