What it means for you, Part I
That Q&A I mentioned yesterday is now on Time.com. I talk about what happens to your insurance policy at AIG if the company declares bankruptcy, what happens if your mortgage lender goes belly up, and other good stuff.
Barbara!
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1
Ha, I see you refer to my own situation in the article, Barbara. I would have added a couple of other banks to the acquisition binge that culminated in BOA, but they were almost too small to count.
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3
Thank you, Barbara! (I amuse myself that the ! is part of the name.)
My mom has a small AIG annuity, not one that is a large portion of her retirement. I've forwarded her your story.
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4
@odograph: I'm here to amuse. Mostly myself, but I'm glad to know it ripples. Your mother has a fixed-rate annuity, I assume? You might also want to forward her a link to the National Organization of Life and Health Insurance Guaranty Associations: http://www.nolhga.com. From the homepage you can link to a useful document titled, "What Happens When an Insurance Company Fails?" But let's hope it doesn't come to that.
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5
Thanks again Barbara!
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