This link lists the weakest and strongest banks in the US. It shows which are vulnerable
to failing if there were ever a run on the banks.
Weakest and strongest Life, Health, and Causualty Insurance Companies
http://www.martinweiss.com/images/pdf/SMR0250_BankingSurvivalGuide.pdf
HOW TO FIND A STRONG BANK OR INSURANCE COMPANY:
http://www.thestreet.com/screener/index.html?src=ratingsindex&tab=3
Put your bank in on the form on the left and it will bring up the rating. See ratings
below. If you need to find a strong bank see instructions below. This comes from Martin Weiss's website. He was one of the few to be ahead of the curve on what is happening in our finanacial markets. Hope this is helpful! I know I was shocked to learn my bank gets a C-Deb
Sonfire Church
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9. How To Find a Strong Bank
Step 1.
First, become familiar with this ratings scale:A
= excellentB
= goodC
= fairD
= weakE
= very weak+
= the upper third of each grade range-
= the lower third of each grade rangeStep 2.
Find your bank in our list of Weakest Banks and Thrifts in the U.S.or in our list of
Strongest Banks and Thrifts in the U.S. For your convenience,they are listed in alphabetical order. Or you can use a search function on
your screen (such as the F4 key in MS Internet Explorer or the "Find"
function in Adobe Reader).
Step 3.
If you cannot find your bank or thrift in one of our lists below ...
Go to www.TheStreet.com.
At the home page, in the menus in the upper right, you'll see the item"PORTFOLIO & TOOLS." Pull down that menu and select "Banks & Thrifts
Screener."
This will take you to a new page with the bank screener, and you'll see abox on the left-hand side to fill in your bank information. To narrow the
search, type in the state if you have it. Then, under
Bank name, type instrictly the FIRST name of the bank with no spaces. (If you type in more
than the first name, the program will probably
not find your bank.)
A list of banks with their ratings should appear to the right of the dataentry box.
Step 4.
When you have your bank's rating, follow these guidelines:
If your bank is rated B- or higher, it implies your bank's relative safetyis "good" or better.
If your bank is rated D+ or lower, it's a red flag. Seriously considermoving your money elsewhere, while weighing the cost of any interest
penalties. For
uninsured deposits, the interest penalty is a small price to21
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pay for safety. For insured deposits, it will depend on how much you
value your peace of mind.
If your bank is rated C-, C or C+, it's a yellow flag. Monitor the ratingevery three months or so to make sure it has not been downgraded below
C- (to D+ or lower).
Step 5.
If you're shopping for a new bank, favor institutions with a rating ofB+
or better. Refer to our list of the Strongest Banks and Thrifts in the U.S.Or ...
Return to Bank and Thrift Screener,15
Under State, select your state,
Under Rating, select B,
To the right of the rating, select "or higher,"
Then, on the list to the right, under "display," set the number of banksto be listed to 100.
From the list displayed to the right, look for banks with a rating of B+ orbetter. You may see some that you know have a branch near your home
or place of work. Or search for the bank at
Google Maps.1610. How Risky or Safe Is Your Insurance?
The risk you take with an insurance policy depends on two things: The type
of policy you have and the relative strength or weakness of the insurance
company. So here are the steps to follow ...
Step 1.
Determine which broad category of policy you have. Generallyspeaking, there are three:
Cash-value policy. These are the most affected by the failure of theinsurer. They include fixed annuities and whole life, sometimes called
universal life. Your funds go into the insurance company's own balance
sheet, and if their balance sheet goes down, your savings can go down
with it.
15
http://www.thestreet.com/screener/index.html?src=ratingsindex&tab=316
http://maps.google.com/maps22
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Variable annuities or variable life. Your money does not become apart of the insurance company's portfolio. Instead, it goes into
separateaccounts. Like in a 401k, your money is actually invested in mutual funds.
And like the 401k, you should check which funds you currently have,
check their menu of choices and switch to the safest ones.
Term insurance — life, health, auto, home, etc. Your risk is greatlyreduced because you're paying strictly for the insurance. Your savings are
not tied up.
Step 2.
Become familiar with the rating scale below:A
= excellentB
= goodC
= fairD
= weakE
= very weak+
= the upper third of each grade range-
= the lower third of each grade rangeStep 3.
Find your insurer in our list of Weakest Health, Life and AnnuityInsurers in the U.S.
or in our list of Strongest Health, Life and AnnuityInsurers in the U.S.
For your convenience, they are listed in alphabeticalorder. Or you can just use the search function on your screen.
Step 4.
Our lists do not include property and casualty insurers. Nor do theyinclude very small insurers or those that are rated "fair" (C+, C and C-). So
if you cannot find your insurer in one of the lists below:
1. Go to
www.TheStreet.com.2. On the home page menus in the upper right, you'll see an item called
"PORTFOLIO & TOOLS." Pull down that menu and select "Insurers and
HMOs Screener."
3. This will take you to a new page with the insurer screener, and you'll see
a box on the left-hand side to fill in the needed information.
4. Under
Company Type, select ...
Life & Health — for life, health and annuity insurers
Property & Casualty — for auto, home or business insurance
HMOs — for Health Maintenance Organizations23
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5. Then, under
Insurer name, type in strictly the FIRST name of theinsurer with no spaces.
6. A list of insurers plus their ratings should appear to the right of the data
entry box.
Step 5.
When you have your insurance company's rating, follow theseguidelines:
If your insurer is rated B- or higher, it implies no further action isneeded under normal circumstances.
If your insurer is rated D+ or lower, it's a red flag. Unless you musthave the coverage and your personal situation would disqualify you from
an alternate policy, seriously consider canceling the policy and, if you still
need the insurance, shifting to another company. In tax-protected plans,
make sure your agent helps you make the transfer without tax
consequences.
If your insurer is rated C-, C or C+, it's a yellow flag. Monitor the ratingperiodically to make sure it has not been downgraded below C- (D+ or
lower).
Important:
No matter what kind of policy you have, seek to do businessonly with strong insurers. Reason: If your insurer fails and you have to
switch to a new company, you may not be able to get a similar policy or, if
your situation has changed, you may not qualify for the insurance.
Step 6.
If you're shopping for a new insurance company, favor those with arating of
B+ or better. Refer to the Strongest Life & Health plus Property &Casualty Insurers in the U.S.
Or ...1. Return to
Insurers and HMOs Screener172. Under
Company Type, select:
Life & Health — for life, health and annuity insurers
Property & Casualty — for auto, home and business insurance HMOs — for Health Maintenance Organizations19 Fret not thyself because of evil men, neither be thou envious at the wicked;
20 For there shall be no reward to the evil man; the candle of the wicked shall be put out.
21 My son, fear thou the LORD and the king: and meddle not with them that are given to change Job 20:4-5
4 Knowest thou not this of old, since man was placed upon earth,
5 That the triumphing of the wicked is short, and the joy of the hypocrite but for a moment
