I own an AIG American General fixed annuity. Is that protected by state insurance solvency standards in the same way that insurance policies are?
Yes. Fixed annuities are considered a type of life insurance, and as such are protected by the same solvency and guaranty framework as traditional life insurance. If at some point in the future AIG insurance companies or their assets and blocks of business are sold, fixed annuity-holders should experience no changes to the way their policies are administered — other than the fact that their correspondence may come from a different company. This is not unique to AIG; insurance companies are bought and sold everyday. Your benefits as defined in the original annuity contract remain the same in a sale.
Related Questions
- I own an AIG American General fixed annuity. Is that protected by state insurance solvency standards in the same way that insurance policies are?
- Would my insurance and annuity policies have been protected had AIG been declared insolvent and ordered to be liquidated by a court?
- Specifically in the state of Kansas. Are funds in fixed or fixed indexed annuities protected from creditors?
