Ask Kim: Protection if your annuity insurer goes under

February 20, 2019 by Kimberly Lankford, Kiplinger's Personal Finance, Kiplinger's Money Power

What happens to a fixed annuity if the insurer fails?

A. If an insurer starts to have financial troubles, the insurance regulator in the company’s home state works with the guaranty associations in every state where the insurer was licensed to find another company to take over its business. But if the company’s failure is sudden, your money may be temporarily inaccessible while the guaranty associations and state regulators find a new insurance company.

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Originally Posted at Chicago Tribune on February 14, 2019 by Kimberly Lankford, Kiplinger's Personal Finance, Kiplinger's Money Power.