Monday, March 09, 2009
After Downgrades, Which Annuities Are Safe?
If you have an annuity and are relying on it to provide for your retirement, then you may be feeling a little tense these days. Case in point: Standard & Poor's Ratings Services recently downgraded Hartford Financial Services Group's (HIG) credit rating. That's bad news for the number-one issuer of variable annuities offered through banks (as of 2007, according to the Insurance Information Institute): It means the company has to boost its cash reserves at a time when money is hard to come by... Any hint of fragility at an annuity issuer causes its customers to wonder whether they'll receive the payments they're counting on in the future...
The Street: After Downgrades, Which Annuities Are Safe?
The Street: After Downgrades, Which Annuities Are Safe?
Permalink posted by markw @ 5:55 AM 
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