The Government is going to hopefully save the financial sector. One company stands out AIG.
This is the largest insurance company with over $1 trillion dollars in assets and nearly 80 million clients and customers worldwide. AIG is the leader in the structured settlements annuities market.
If you have an structured settlement, do you have to worry? No you don’t. Life insurance companies, which includes annuities and structured settlements are govern under State Law and have special reserve accounts which the parent company can not touch.
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 individual state insurance laws covers all annuities and/or structured settlements and have a reserve set aside to cover all the responsibilities of that annuity and/or structured settlement.
Any money or assets from the life insurance sector in these reserve accounts are protected and a parent company such as AIG may not touch it.
Each of the AIG life insurance department reserve accounts that guarantees the annuities and/or settlements are govern by insurance laws of the state of Texas.
Now you can sleep at night knowing that your money in your structured settlement is safe from all this financial turmoil.