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Subject:  Re: Understanding Annuities Date:  3/21/2011  12:49 PM
Author:  pauleckler Number:  410 of 441

The statement relates to all of the promises made by the annuity contract you sign with the insurance company. It is especially important to those who have annuitized their contracts meaning they have assigned all of the assets to the insurance company in return for a promise to make regular or monthly payments to you under the contract usually for life.

What happens if financial disaster means the company does not have the assets to pay or goes bankrupt? The language says you go to bankruptcy court and press your claim, but you will probably collect only part of what is due you if anything.