Financial protection and peace of mind are big benefits of having the right insurance. But you won’t have either if the ability of your insurer to pay claims is in doubt. This is especially true for life insurance companies. After all, people typically count on their life insurance policies to provide coverage for decades. That’s why several companies are in the business of evaluating insurers’ financial strength. What are financial strength ratings? Financial strength ratings estimate the likelihood that an insurer will be able to pay its financial obligations, such as your claims.