Mortgage Land Prosperity

If you’ve ever wondered how safe your annuity was, you’ll be glad to know there’s annuity insurance. Of course, it isn’t called that. Annuities are created by insurance companies. Just like banks with FDIC, insurance companies have protection for their clients in the event a company goes bankrupt. It’s called the state guaranty fund.

Each state has a guarantee fund to protect investors. Like the FDIC that levies payments from healthy banks, the funds come from hundreds of insurance companies that operate in each state. Since insurance companies often operate in several states, annuity insurance, or guaranty fund, have a national organization to co-ordinate the efforts of all the states. This organization is the NOLHGA, National Organization of Life and Health Insurance Guaranty Associations.

This organization has insurance guaranty associations from all states and territories. If an insurance company has financial problems, every insurance company accepts the distressed company’s clients or invests money to help the distressed company until they can pull out of the financial spiral downward.

Knowing there’s annuity insurance helps bring peace of mind to those that worry about the financial state of everything. You can’t be too careful when it comes to investing your hard earned dollars, so knowing there’s annuity insurance brings peace of mind.
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