What will happen to my annuity with AIG now that they have a federal loan?
they have to have a seperate account when you fund an annuity dollar for dollar. I believe they have a 4.8 billion surplus in that fund. Worse case scenrio is two fold. one AIG may sell their annuity division, if that happens, most likely another company is going to buy it and they would assume the contract. The other scenario if very unlikely but if they are totally bankrupt and don’t have any money in the seperate account you have you state guarntee (spelled wrong) that would kick in. It depends on what state you’re in but you would have a minmum of 100k protection. Some states are higher. so in essence you’ll be fine!!!
Related Questions
- What if I have exhausted my annual Federal Direct Subsidized/Unsubsidized Loan eligibility and I still have not reached the cost of attendance? How do I secure additional loans?
- What will happen to my annuity with AIG now that they have a federal loan?
- Why choose an FHA (Federal Housing Administration) insured loan?
