Structured Settlements and the Federal Bailout. Any Affect?
Author: FrankD.ReCouperSr. Total views: 19 Word Count: 201
The US Government is going to save the financial sector. The insurance company that stands out is AIG.
With over $1 trillion dollars in assets and nearly 80 million clients and customers worldwide, AIG is the largest insurance company. They are also the leader in structured settlements.
The question asked is, how will this effect structured settlements? Answer is None. All life insurance which covers annuities and structured settlements are under strict State Law and must have special reserve accounts.
The bailout has no effect on the annuity and/or structured settlements marketplace. Annuity and/or structured settlements funds are protected and are separate from AIG.
The insurance laws of that individual state governs annuities and/or structured settlements. A special reserve fund is set aside to cover all the commitments of each annuity and/or structured settlement.
All money or assets from life insurance section with reserve accounts are off limits, mandated by law. AIG may not borrow against or in any way touch this money.
In the case of AIG's life insurance department, the state of Texas supervises and monitors each of these reserve accounts that that guarantees these annuities and/or settlements.
Not to worry, your money in your structured settlement is secure.
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About the Author
Frank ReCouper Sr. is President of FDR Resources and has been in financial services for over 45 years. For more information about Structured Settlements or Selling your settlement? You can get a unique content version of this article from the Uber Article Directory.
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