1. Financial Stability - Standard & Poor's, and AM Best are independent financial rating agencies that review and rate the financial soundness of insurance companies. Look for anything with an "A" rating or better, as being very financially stable, and capable of paying your claim.
2. Complaints - Look at the complaints filed against the life insurance company - do they have a pattern of issues or problems paying their claims, or denying them?
3. Pricing - How do the rates compare with other highly-rated life insurance companies?
Also, are the life insurance applications and brochures clearly worded? Do they make sense to you? Are the insurance agents of good quality?
In addition, make sure you understand how the life insurance plan works, and how long you are guaranteed coverage and level rates on your policy.
Here is a list of top life insurance companies including financial strength ratings for your review.