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PHILADELPHIA ANNUITY
Articles
After Downgrades, Which Annuities Are Safe?
If you have an annuity and are relying on it to provide for your retirement, then you may be feeling a little tense these days. Case in point: Standard & Poor's Ratings Services recently downgraded Hartford Financial Services Group's (HIG) credit rating. That's bad news for the number-one issuer of variable annuities offered through banks (as of 2007, according to the Insurance Information Institute): It means the company has to boost its cash reserves at a time when money is hard to come by... Any hint of fragility at an annuity issuer causes its customers to wonder whether they'll receive
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Variable Annuity Questions Answered
The explosion of variable annuity sales in recent years has spurred plenty of debate over whether many consumers understood what they were buying. Whether pushy sales agents or unknowledgeable customers are more to blame is a matter of opinion. What is certain, however, is that this market downturn has been a dose of tough love for millions of annuity holders. Variable Annuity Questions Answered Source: Yahoo! Finance/TheStreet.com
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MetLife Earns Top Rank in Fixed Annuity Sales
There is some light amidst a darkening economy, reports Beacon Research, Evanston, Ill., which reports that sales of fixed annuities climbed to $107 billion last year, up 60% from 2007. The Beacon Research Fixed Annuity Premium Study notes that fourth-quarter fixed-annuities sales hit a six-year record for the third-consecutive quarter, rising to $34.1 billion, up 90% from a year earlier. MetLife Earns Top Rank in Fixed Annuity Sales Source: BankInvestmentConsultant.com
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The Hartford Faces Nationwide Class Action In Accident Settlement Case
A lawsuit against The Hartford accusing it of fraudulently keeping millions in settlement money that should have gone to accident victims will proceed as a nationwide class action under a ruling this week by a federal judge in Bridgeport. The 2005 case was filed on behalf of three people in Ohio, Pennsylvania and Oklahoma who had been injured in motor vehicle accidents by people insured by companies that are part of The Hartford Financial Services Group. The suit involves "structured settlements," which resolve personal injury and workers' compensation claims and often use annuities to provide the payments. The Hartford allegedly
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