by John Darer® CLU ChFC MSSC RSP CLTC
A retirement annuity company is offering 3.05% for 5 years, or so says the email solicitation that I received as a Connecticut resident where the product is not even licensed to be sold.
More Food for thought
A. M. Best rates the company B+
Weiss rates the company D+
Here's what Weiss might be looking at
Bonds In or Near Default 21.2% (Bonds are 55% of portfolio)
Problem Mortgages 5.9%
Real Estate Acquired by Foreclosure 23.9%
Total Non-Performing Assets/Surplus & AVR 51.0%
As a Percent of Invested Assets 5.5%
Errors and Omissions insurance policies often have policy restrictions or exclusions if the insurance company is less
In the words of Planet Patrol "Play At Your Own Risk". Not a place for the "Stray Cash Strut".
Comments