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  • Beware Pension-Plan Shortfall - Barron's [View article]
    Sandia National Laboratories retirees are bought an annuity from PRU upon retirement.

    We are starting to study what happens to our retirement checks if PRU goes bankrupt.

    Here looks like the best answer, so far.

    9) True or false: Annuities are covered by the Federal Deposit Insurance Corp.
    ANSWER: False. They are covered by state guaranty associations. Like the FDIC, the associations impose maximum coverage limits, and limits vary from state to state. Note: Money in the subaccounts of a variable annuity is legally segregated from the insurers' assets; if the insurer fails, the owner gets whatever is in the subaccounts. Most states provide at least $100,000 for the guaranteed portion of an annuity contract, according to the Web site of the National Organization of Life and Health Insurance Guaranty Associations, www.nolhga.com/.

    www.prosefights.org/nm...

    Cramer's November 13, 2008 cnbc presentation on annuity insurance companies attracted our attention. You can find a link to a video of Cramer's presentation at the above link.
    Dec 07 09:52 am |Rating: 0 0 |Link to Comment
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