Why Are Annuity Companies Buying Back Benefits?
Question: I own a variable annuity and recently received a letter from the insurance company offering me cash to buy back my contractual benefits. Why are they doing that? – Phil from Indiana. Answer: I bet you weren’t expecting that letter, huh Phil? This current “buy back bonanza” is primarily happening with variable annuity carriers, but don’t be surprised if fixed indexed annuity carriers start doing the same thing in the near future. Here’s the scary part, the reason that these insurance companies are trying...View Article