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StanCorp's Standard Insurance purchased part of Teachers Insurance and Annuity Association (TIAA) group life and disability portfolio in 2002 for $75 million. [ 6 ] In May 2004, Ron Timpe was succeeded by CEO Eric Parsons as the company's chairman of the board of directors.
The Standard covers 8.5 million people (June 30, 2008) in the USA through and out of above 30,000 employers with group and individual disability insurance, group life, AD&D and dental insurance, retirement plans products and services, individual annuities. It is licensed in 49 states and Washington, DC.
An investor should consider the financial strength of the insurance company that writes annuity contracts. Major insolvencies have occurred at least 62 times since the conspicuous collapse of the Executive Life Insurance Company in 1991. Insurance company defaults are governed by state law. The laws are, however, broadly similar in most states.
Many annuity companies have relatively low minimum premiums, often as low as $2,500 to $5,000 for some types of fixed annuities and around $10,000 to $15,000 for variable annuities.
Insurance companies often offer annuities and construct the annuity to pay out on a predictable schedule. ... An indexed annuity offers a rate of return that tracks an index such as the Standard ...
An annuity is an insurance contract between you and an insurer. For some folks, annuities are a way to ensure you don't outlive your retirement savings with income that can help pay your bills and ...
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CNO Financial Group is the parent company of seven insurance companies, including Bankers Life and Casualty Company and Colonial Penn Life Insurance Company. [5] They also own 40/86 Advisors, an investment management company and Washington National Insurance Company.