My spouse and I each own an annuity contract worth $75,000 with the same insurance company. Does the $100,000 limit apply to us jointly?
No. The $100,000 limit is calculated based on ownership and does not limit the amount of coverage for a married couple or any individuals jointly. Because there are two separate owners, each contract would be covered for its full value of $75,000, and thus the couple in this example would receive $150,000.
Related Questions
- Must an insurance company provide my spouse and me with eligibility for coverage? And am I entitled to spousal health care coverage from my or my spouse’s employer if my spouse and I are married?
- My spouse and I each own an annuity contract worth $75,000 with the same insurance company. Does the $100,000 limit apply to us jointly?
- My spouse and I each own an annuity contract worth $75,000 with the same insurance company. How does the $100,000 limit apply to us?
