Archive for April 2017

April 6, 2017

Is Your Insurance Money Safe?

Insurance PolicyFor many future retirees, life insurance is an important component of retirement planning. Policies that build cash value, such as whole life and variable universal life policies, can be tapped for additional retirement funds if necessary.

The recent debacles with the stock market and other securities have many wondering: is my money safe in an insurance policy. The answer: a definite “maybe.”

Insurance companies are required to hold sizable reserves. They are generally forbidden from making wild speculations with the money. Unfortunately, though, many of the mortgage-backed securities that have fallen to a fraction of their previous values were considered rock-solid before the “crash”—so solid, in fact, that they received highest safety rankings from the bond rating services.

How is your insurance company doing? You can find out, but it will take a little research.
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