Q: The AIG turmoil has me worried about insurance. Are my annuities and policies protected?

A: Yes, your insurance policies and your annuities should be safe. Insurance companies are regulated by the states and any potential defaults are covered by individual state Guaranty plans. Limits vary by state, so check with your state’s insurance regulator to be sure of your coverage.

If you have an AIG annuity or policy, you can stick with it. The government bailout plus state regulations have you covered. Should the AIG subsidiary that holds these annuities fail, all other companies doing annuity business in your state will, likely, take over the annuities of AIG. If you’re considering a new policy or annuity, check to make sure the insurance company your working with has at least an A or B rating, go to Weiss Research at www.thestreet.com for a safety rating on your insurance company.

Next: Will I be able to get a loan?

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