How Safe is The Insurance Industry – National Retirement Benefits Association

How Safe Is The Insurance Industry?


INSURANCE COMPANIES ARE HIGHLY REGULATED

THERE UNDER FEDERAL RESERVE LAW, AND STATE REGULATORS:
ALL STATES HAVE AN INSURANCE GUARANTEE ASSOCIATION. CHECK YOUR PERSONAL STATE DEPT OF INSURANCE FOR DETAILS. THE  LAW STATES THAT IN THE UNLIKELY EVENT OF AN INSURANCE COMPANY  FAILURE ALL OTHER INSURANCE COMPANIES MUST GUARANTY YOU FUNDS UP TO CERTAIN LIMITS. EACH STATE HAS ITS LIMITS , BUT IT AVERAGES ABOUT 250,000  PER ACCOUNT FOR ANNUITIES POLICIES, AND 500,000 FOR LIFE INSURANCE POLICIES. AGAIN CHECK YOUR STATE.
PLUS OF COURSE THE CLAIMS PAYING ABILITY OF COMPANY. CHECK OUT THEIR A.M. BEST REPORT. COMPANY NEEDS TO BE IN THE SECURE
RATING AREA.  THAT IS BBB+ THRU AA+
 
NO ONE HAS EVER LOST A PENNY IN A LIFE INSURANCE GUARANTEED FIXED ANNUITY OR LIFE INSURANCE IN THE HISTORY OF THE UNITED STATES.

COMPARE TO BANKS THE FDIC STATES THERE WHERE 140 BANK FAILURES IN 2009 ALONE,BUT  NOT A SINGLE MAJOR INSURANCE COMPANY WENT UNDER.