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My fixed Annuity

304 Views 4 Replies 4 Participants Last post by  rodney482
I have a fixed rate annuity with Jackson Life, should I just leave it alone?

I know it is not FDIC insured, what happens if Jackson goes belly up?
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· Occam's Razor
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11,356 Posts
These are the rating for JNL

* A+ (Superior)
A.M. Best financial strength rating, the second-highest of 16 rating categories

* AA (Very Strong)
Fitch Ratings insurer financial strength rating, the third-highest of 24 rating categories

* AA (Very Strong)
Standard & Poor’s insurer financial strength rating, the third-highest of 21 rating categories

* A1 (Good)
Moody’s Investors Service, Inc. insurance financial strength rating, the fifth-highest of 23 rating categories

They are in the top tier of rankings for financial strength. There are better companies, but Jackson appears to be ok. You might try your state insurance regulator to see if they have any problems with them. Insurance companies are required to set aside assets (and these days what are the assets?) in each state that they operate.

But then again, I never thought that in one year Bear Sterns, Merrill Lynch, Wachovia, Fannie Mae, Freddie Mac, Washington Mutual and Lehman would either go belly up or need a merger with a white knight either. Diversification is a key across all different asset classes.......................ck
 

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I have mine with Met Life. I am concerned about it as well. My 77 year old dad called me tonight asking me if I thought I should take it out and put it in a local bank and "keep an eye on it". Local IRA interest rates are low. Not sure about Roth IRA.
 

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How long until you retire? Also it is not always very easy to get your money out of a fixed annuity. If you have your assets allocated even if an annuity insurance company folded, it should not ruin you...However I can relate to your concern as it is an interesting time for sure.
 

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Discussion Starter · #5 ·
How long until you retire? Also it is not always very easy to get your money out of a fixed annuity. If you have your assets allocated even if an annuity insurance company folded, it should not ruin you...However I can relate to your concern as it is an interesting time for sure.
I have had the Annuity for 11 years and was not going to touch it until I was 60, which is still 23 years away.
 
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