The Jordan Insurance Agency
The Jordan Insurance Agency is an Independent insurance agency in Charlotte, North Carolina.
Are annuities FDIC insured?
“No. Annuities are not FDIC-insured.”
View in the company profileWhat actually protects my money in an annuity?
“Two things protect an annuity. First and most important is the issuing insurance company's financial strength and claims-paying ability, which you can check through an independent rating such as an AM Best Financial Strength Rating.”
View in the company profileHow much annuity coverage does the North Carolina guaranty association provide?
“The North Carolina Life & Health Insurance Guaranty Association covers up to $300,000 for the present value of annuity benefits per individual, per member insurer, regardless of how many contracts you hold with that company. Structured settlement annuities are covered up to $1,000,000 per NC payee, and unallocated annuity contracts up to $5,000,000 per owner.”
View in the company profileIs an annuity as safe as an FDIC-insured CD?
“They rest on different guarantees. A bank CD is FDIC-insured up to $250,000 per depositor, per bank, per ownership category.”
View in the company profileHow do I check if an annuity carrier is financially strong?
“Look up the insurer's financial-strength rating from an independent agency such as AM Best. AM Best's Secure categories are A++ and A+ (Superior), A and A- (Excellent), B++ and B+ (Good), and B and B- (Fair); the Vulnerable categories are C++/C+ (Marginal), C/C- (Weak), and D (Poor).”
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