Annuities Are Safe Alternative to Banks
In the Indianapolis Star, financial expert Andrew Roller advises that annuities are often a safe alternative to depositing money in a bank account. While the government insures all but the largest bank deposits through FDIC, some savers are still worried about their financial security.
An annuity is insured by the insurance company providing, which makes certain people more comfortable. If the insurer is unable to pay out annuity claims, state guaranty associations will cover up to a certain amount of the investment (often up to $100,000 similar to FDIC guarantees).
Andrew stresses that you should compare annuity rates, fees, and terms if you decide to go this route for your savings.
