by kathyhoff » Wed Sep 30, 2009 08:23 pm
I am getting $2560/mo for the next 10 years (if conditions stay the same) until I'm 65. CIGNA(underwritten by Life Insur.Co. of North America)
says my claim is worth $231,365 at a 4.75 interest rate.So, they have offered me $145,750 to settle and discharge any further claim. I wonder WHY they are doing this and solvency came to mind.
says my claim is worth $231,365 at a 4.75 interest rate.So, they have offered me $145,750 to settle and discharge any further claim. I wonder WHY they are doing this and solvency came to mind.
Posted: Wed Sep 30, 2009 11:11 pm Post Subject:
Sounds like they are offering you an annuity as an option, solvency shouldn't come into play on this as, the annuity has to be purchased. To ease your mind though
check your states dept of ins web site, you should
also ask if this annuity is being purchased from their own
company (I'd assume it is), if not what company. Also
if they can and will prove payment (in full) at the time it's purchased.
Why? because it costs them much less. You get more in the long run, but they pay out less..
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