If the life insurance company is a legal reserve life insurance company, the answer is very safe. Here are the top reasons Life Insurance Companies insure complete safety:
Under the legal reserve system: Meaning they must have a policy reserve fund.
Legal Reserved life insurance companies are regulated at the state level: Your state is monitoring the financial behavior of the insurance companies. They have to always be in compliance with the legal reservation requirements of the state.
Every state has an insurance guaranty association that has been established to protect policyholders if their insurance company becomes insolvent. If a life insurance company becomes insolvent, these insurance guaranty associations then ensure continuation of policyholders coverage either by taking policies directly or by transferring the policies to a financially stable insurer. Since 1988, the life and health guaranty system has participated in approximately 100 multi-state insurer insolvencies, guaranteeing more than $21 billion in coverage benefits and assessed their members insurers more than $6 billion to protect more than 2.2 million insured accounts.
Life insurance companies are heavily monitored and concrete safe!