by simon » Fri Jan 30, 2009 10:44 am
Scorned by stocks, investors are flocking to products that promise guarantees.
But will those guarantees become the next house of cards to topple? Even troubled U.S. insurers are still paying claims to policyholders, but some experts fear that the industry isn''t adequately protected for the level of guarantees it is providing.
Fixed-annuity and whole-life insurance sales are surging, while products that depend on financial market performance are suffering, thanks largely to 2008''s dismal markets. And while sales of variable annuities are declining, reversing years of growth, their most popular feature remains guaranteed withdrawal benefits, which came on the scene just a few years ago.
But will those guarantees become the next house of cards to topple? Even troubled U.S. insurers are still paying claims to policyholders, but some experts fear that the industry isn''t adequately protected for the level of guarantees it is providing.
Fixed-annuity and whole-life insurance sales are surging, while products that depend on financial market performance are suffering, thanks largely to 2008''s dismal markets. And while sales of variable annuities are declining, reversing years of growth, their most popular feature remains guaranteed withdrawal benefits, which came on the scene just a few years ago.
Posted: Fri Jan 30, 2009 10:50 am Post Subject:
Several times we have discussed this across this forum that you need to be careful while choosing the insurer. This advice is even more relevant at this given market condition.
How many of you do actually look into the background of the insurer before signing the policy document?
Posted: Fri Jan 30, 2009 10:58 am Post Subject:
Hi, I agree that one should check with the insurer's financial health before accepting the proposal, but often time people don't know where to look for the information or which source to trust. Can anyone suggest the best source for this information? Most of us believe or go by the company that's referred to us by the friends and family, not actually inquiring at the authentic sources.
Posted: Fri Mar 30, 2012 07:48 pm Post Subject: oUuESWvcfxtIs
As a 20 year insurance agent, I'll be happy to share some cdviae. Getting a quote over the net is convenient and quick, but often times VERY inaccurate. The quote is often given without actually running your MVR (motor vehicle report) because that costs the company money and you haven't paid any yet. Most all companies will run your consumer report (which credit is only one small factor of) and it won't be run during the quoting process, it will be run after you purchase. This is the reason so many people are dissatisfied at their next renewal or shortly after their purchase when the real bill comes. Now, let's discuss what you're actually asking. You want prices, but didn't mention anything about coverage. Before you buy based on premiums, please research what you are buying and whom you're buying it from. What happens at claim time? Who will offer you the most for your totalled vehicle? How will you be treated? Is it a toll-free phone number that will be helping you in your time of need or a real person whom you can see? Please contact an agent and a company that is highly rated for their customer service and claim payment ability.
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