I have an AIG SUNAMERICA Variable Annuity Contract. What happens if AIG (parent company) goes bankrupt? - aig sunamerica annuities
What happens to the value of the sub-accounts?
Currently, an income for life, then what becomes of this monthly income, if AIG goes under?
Any information or link directly to information appreciated.
Saturday, January 23, 2010
Aig Sunamerica Annuities I Have An AIG SUNAMERICA Variable Annuity Contract. What Happens If AIG (parent Company) Goes Bankrupt?
2 comments:
Not to worry.AIG Sun is a separate division of the holding co, AIG, which can not get to its assets.
Plus, states provide backup, with limits.
The worst seems to be over.
You're probably right. Stories like these separately from other accounts of the Company and have rolled into the protection against losses. The only exception would be if the Executive commits a crime of theft, such as at Enron, but no reports of such problems for AIG.
Given the size of AIG, which is part of Main Street not just Wall Street, my prediction is certainly the federal government with protection. Announcemet could in a few minutes or hours at least be made immediately.
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