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Are insurance company annuities safe?
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Answer . No I did not.
Forethought Financial Group will soon offer ForeCare which is an annuity with a LTC rider with all the benefits available under the Pension Protection Act of 2006.
areinsurance annunities safe and what are the charges on them
Usually it is backed by the financial strength of the issuing insuance company. Answer 2 But more usually government bonds are bought to cover the payments to be made by th…e insurer. This guarantees (as far as one can guarantee anything) that the annuity payments are safe. The financial strength of the insurer is a very vague measurement - who'd have thought that an insurer like AIG (massive financial strength?) would go under.
is my IRA annuity safe from creditors and mortgage foreclosure
Western National Life Insurance Company (NASDAQ: NWLI) was upgraded recently to an "A" (excellent) rating from "A-" by A.M. Best Company based on a conservative investme…nt portfolio. WNLIC holds "A-" (strong), "A1" (good) and "A+" (strong) ratings from Fitch, Moody's and S&P (respectively). Despite AIG ownership, history and recent reports suggest that your annuity is quite safe with WNLIC and that you should not worry about the organization's ability to pay.
No. Each State covers annuities and life insurance. It's actually a lot better than the FDIC.
Generally, when an insurance company goes bankrupt, the guarantees that are being offered on the contract are gone. For instance, if you have a death benefit, or a income guar…antee, those will usually be lost. As for the money you've invested in the variable annuity, if your money is invested in the sub-accounts (the various investments that are usually managed by mutual fund management whose names you will usually recognize), that money is still being managed by those companies, and is separate from the now bankrupt insurance company. That is the long way of saying, your money in the sub accounts is safe. However, if you have money in the fixed interest account, that is usually held by the insurance company, and that money may be in jeopardy.
Most Insurance companies sell them. Annuity by definition is a contract sold by an insurance company. They are relatively safe investments but are full of hidden charges, high… commissions, annual fees and insurance charges and surrender charges for early withdrawl.
Allianz Life Insurance of North America has been a leading company for many years.
Annuities are purchased from insurance companies. The insurance company take the money and invests it to try to make more money for the investor. They pay the buyer back in i…nstallments.
If you have an agent I would contact them for this information. If not you can contract the company directly and they can provide whatever you need. You may even be able to do…wnload and print the documents online if they have this available.
It will vary based upon the company and any complexitiesencountered in processing, such as claims by multiple claimants.However, because annuities are essentially insurance pr…oducts,State insurance regulators regulate them. State statutes generallyprovide a time frame for payment. If the time frame cannot be met,the same statutes normally also have provisions for notifying theparties involved as to what further material is needed or otherprocedures to be followed.