Whatever you do, don’t go to one of those viatical settlement companies until you talk to your state Ins. Dept. Good luck.

weinerdog43

(a) the aig company behind the annuity is not the parent

(b) whatever state its in is making sure its adequately capitalized (except in ny, where they are whores now)

(c) the other annuity companies in that state will step in and make up whatever can be made up to protect the industry’s reputation

(d) if you arent going to sleep about this, GET ON THE FONE AND CALL YOUR LAWER AND ASK THE FOLLOWING:

“was the contractual payment obligation satisfied by purchase of the annuity, or was it merely suspended by purchase of the annuity and if the annuity becomes impaired there is a residual payment im entitled to from the defendant”

http://online.wsj.com/article/BT-CO-20080915-712530.html?mod=hps_us_my_companies

In a market economy the stakeholders have a responsibility for helping a company. Unless of course the stakeholders don’t care. But I seriously doubt that’s the case, given AIG’s massive presence in innumerable markets.

Thanks

Lori

“If you insure something, it had better be quantifiable. If you insure property, you’d better know how much the property is worth. If you insure lives, you’d better know how much exposure you have. If you insure autos, you’d better know the accident rate…

But if you insure the unquantifiable, you are in a different position. If you insure financial instruments and you can’t assess how much you are insuring, then you are taking on a level of risk that is too difficult to handle.

That’s what AIG (AIG) did. It wrote policy after policy insuring mortgages and mortgage portfolios of all shapes and sizes, not just in the United States but in Europe. Especially in Europe.

That’s why AIG is so difficult. We don’t have federal regulation of insurance and we don’t have cross-border regulation of insurance. So we don’t know who has the responsibility of regulating or even helping AIG.”