What is going to happen with the Annuities with AIG? (insurance, company)

[Roma]

What is going to happen with the Annuities with AIG? We have an annuity but not with AIG but with another insurance company. I don't like what I'm seeing and I'm thinking of pulling our money even though we would take a loss.

[LongArm]

Just answered this in another thread:

I believe the subaccounts in variable annuities are assets of the shareholders, not AIG, so those should be safe no matter what happens with AIG. Same deal with AIG mutual funds.

Fixed annuities, OTOH, are the assets of AIG, so the health of the company definitely matters there. In that case, whatever protection your state provides may come into play...

[Roma]

Originally Posted by LongArm

Just answered this in another thread:

Thanks LongArm. Ours is a variable annuity.