Tuesday, September 16, 2008


Annuities: I Own An AIG Annuity

The sub-prime problems and credit problems aren't stopping and in fact they are hitting the insurance companies. AIG, the most recent victim, is scrambling to keep it's clients put in their annuities but it's a hard sell. I myself have received an exorbinant amount of calls from people who own AIG annuities asking if they are safe.

The answer is, AIG may not be safe as a company from a cash perspective. However, you don't need to panic just yet. There are state guaranty associations and safety nets set up for these type of situations. They are limited into how much they protect, however it is good to know that there is something available to consumers.

What to Do If You Own an AIG Annuity

Right now, there isn't much you can do. We have personally been trying to call them and they are virtually impossible to get a hold of right now. The best advice I can give you is not to panic. There are safety nets set up for these type of situations. AIG's Peter Tulupman, a company spokesman, claimed earlier in an emailed statement "Insurance policies written by AIG companies are direct obligations of our regulated insurance companies around the world. These companies are well capitalized and meet or exceed local regulatory capital requirements." To the extent that is true, only time will tell.

Again, state guaranty funds are there to help. You can continue to contact AIG for an answer but it may be a little bit before you can get a hold of them. In the meantime, if you would like some peace of mind, my best advice is to contact your state guaranty association.

Here is a way to do that. This link, http://www.milifega.org/links.cfm is the link for the State of Michigan guaranty association. Even though this is the Michigan site, if you click the down arrow, you will probably find your state guaranty association. Most of them are listed here, although, unfortunately, not all of them.

At these sites, there is so much useful information and people you may contact. Furthermore, there is information on ratings agencies. My personal favorite part about this site is the FAQ section on the left hand side. It is full of useful information.

If you do not find your state, don’t worry. Try calling any state’s guaranty association and they can likely give you the number to another state’s association.

For more information on your annuities, please feel free to visit us at http://www.AnnuityMD.com.

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Sunday, September 14, 2008


Medicaid Annuities May Not be So Friendly

Medicaid annuities aren't without their risks. If you are reading this, there is a good chance that you are trying to qualify for Medicaid by using an annuity. I am here to tell you that there are major risks involved in trying to do this.

The first risk is to be aware that UNLESS you are being advised by a true expert in this area, you may very well be on your way to big headaches and problems. The reason is simple. The Medicaid laws are constantly changing. This means that your 'planners' methods had better be up to date or you will have issues.

Next, it is important to consider that you may be dwelling in an area that is under high amounts of scrutiny. This means that the strategy better be well thought out and perfectly executed. If you are not using a professional that is well versed, again, you will be looking at a future of frustration and expenses. If this is not done right the first time, chances are, it cannot be redone and undoing it will cost a lot of time and money.

There are several other risk factors to using annuities to qualify for Medicaid purposes. What we have done is put together a contact form. If you need help in this area, or even just a second opinion, please visit:

AnnuityMD.com Medicaid Annuity Help

You will have the opportunity to consult with one of a few people we consider to be the best in the country when it comes to Medicaid Friendly Annuities.

Hope this Helps.


Tony Bahu

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