(FORTUNE Magazine) – In seizing control of troubled Mutual Benefit Life Insurance, the state of New Jersey further stoked concerns nationwide that other companies offering life insurance and annuities may be endangered. Here are six ways for you to check out the financial soundness of your insurer: -- Call two or more of the agencies that rate the financial strength of insurers (see table for phone numbers; charges vary). Weiss Research is the toughest grader. -- Examine your insurer's mix of investments. One thing Weiss looks out for: insurers with more than 10% invested in either junk bonds or nonperforming mortgages. -- If you're on a pension, call your former employer and find out if the company still backs your retirement plan. If an insurance company guarantees it, check out the insurer. -- Know where your insurer is registered. Only Louisiana and Washington, D.C., do not have an industry-sponsored guaranty group. But the amounts covered by other states in case of the failure of an insurance company differ. -- Even if you're worried about the financial strength of an insurer, be careful before you transfer your policy. Many stipulate heavy surrender fees. -- Get professional advice. The nonprofit National Insurance Consumer Organization in Alexandria, Virginia, will evaluate rates of return on different policies. The group charges $35 to vet the first policy and $25 for each thereafter. - R.T.

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