Life insurance companies, normally thought of as bastions of stability, have come under greater scrutiny from concern that their holdings of mortgage-backed securities and aggressive annuity guarantees may put their financial stability at risk. Where can you go to determine the strength of your insurer?
According to a report in yesterday’s Wall Street Journal, the Treasury Department will soon announce that TARP funds will be made available to insurance companies that own banks.
Although life insurers are closely regulated, there’s growing evidence that some insurers hold significant amounts of low-rated mortgage-backed debt. Financial Planning magazine cites data indicating that of …Read More