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Posted by Cal on October 25, 2006, 4:30 pm
>
>> BUT the Annuity lives on in perpetuity. There has NEVER been an
>> instance of an In-Force Immediate Annuity that FAILED to make
>> payments. At worst, it would be taken over by another company.
>> Cal
>
> But the future is full of surprises. Think of what happened to the savings
> and loan associations in the 1980s. Who would have thought those rock
> solid institutions could ever get into financial difficulties. I would not
> want to bet anything of what might or might not happen in 2020.
True, but not a correct analogy. The banks (although insured to 100k) were
NOT protected by the State. Whereas Life Insurance Companies are.
There has NEVER been a Life Company failure that resulted in a policy
being Null & Void. The failures that have occurred, resulted in ALL of
the contract being HONORED (as stated in the contracts) by other companies.
Cal
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