The Government is going to hopefully save the financial sector. One company stands out AIG.
The largest insurance company, with $1 trillion dollars in assets and 80 million clients and customers. AIG dominates the structured settlements annuities sector.
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 of AIG by the US Government has no effect on the annuity and/or structured settlements sector of their business.
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.
The state of Texas (which oversees the AIG life insurance department that guarantees these annuities and/or settlements) supervises and monitors each of these reserve accounts.
Now you can sleep at night knowing that your money in your structured settlement is safe from all this financial turmoil.
