Index annuity - American Equity - News Article

American Equity to Present at Friedman, Billings, Ramsey 2008 Fall Investor Conference

WEST DES MOINES, Iowa, Nov 25, 2008 (BUSINESS WIRE) -- American Equity Investment Life Holding Company (NYSE: AEL), today announced that Wendy Carlson, CFO and General Counsel, and John Matovina, Vice Chairman, will be presenting at the Friedman, Billings, Ramsey 2008 Fall Investor Conference in New York, NY on Tuesday, December 2 at 2:20 p.m. EST. Investors may access a web cast of this presentation on American Equity's Website, www.american-equity.com.

Certain statements made during this presentation may constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities and Reform Act of 1995. Actual results may differ materially. These forward-looking statements are subject to a number of risks and uncertainties discussed in detail in American Equity's most recent SEC filings.

ABOUT AMERICAN EQUITY

American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full-service underwriter of a broad line of annuity and insurance products with a primary emphasis on the sale of fixed-rate and index annuities. The company's headquarters are located at 5000 Westown Parkway, West Des Moines, Iowa, 50266. The mailing address of the company is: P.O. Box 71216, Des Moines, Iowa, 50325. For more information, visit our website www.american-equity.com.

SOURCE: American Equity Investment Life Holding Company

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American Equity Announces AEL Management Succession

American Equity - News Article

WEST DES MOINES, Iowa, Nov 21, 2008 (BUSINESS WIRE) -- American Equity Investment Life Holding Company (NYSE: AEL), today announced the implementation of a senior management succession plan as approved by its Board of Directors and David J. Noble, Chairman. Mr. Noble, who founded the company in 1995, has served as its Chairman, Chief Executive Officer, President and Treasurer from inception and led the Company through its dramatic growth over the last decade. Commented Mr. Noble: "I have built a senior management team who possess substantial industry experience as well as many years of working effectively together. The time has come to call upon them to assume full responsibility for the day-to-day management and operations of the Company. I am tremendously proud of American Equity and the people who helped me build it."

The management succession plan includes the following changes in the executive ranks of the company and of its primary operating subsidiary, American Equity Investment Life Insurance Company ("American Equity Life"), effective January 1, 2009:

AEL:

John M. Matovina, Vice Chairman, Chief Financial Officer and Treasurer

Wendy L. Carlson, Chief Executive Officer and President

American Equity Life:

Ron Grensteiner, President

Debra J. Richardson, Chief Administrative Officer, Executive Vice President and Secretary

Mr. Noble will remain as Chairman of the Board of AEL as well as American Equity Life. All other executive positions within the Company remain unchanged.

Kevin R. Wingert will resign as President of American Equity Life and as a Director of AEL and American Equity Life effective January 1, 2009, in order to form his own business as a national marketing organization. He intends to principally market American Equity Life products through a new agency force he will create. Commented Mr. Wingert: "I'm fortunate to have had such a great relationship with Mr. Noble and the entire AEL team, and I'm looking forward to partnering with them in the future on products and services for agents."

Biographical information concerning Ms. Richardson, Ms. Carlson, Mr. Matovina and Mr. Grensteiner is as follows:

Debra J. Richardson has served as Senior Vice President and Secretary of AEL and American Equity Life since 1996. At the Company's inception, Ms. Richardson became its second employee after Mr. Noble. She has served as a Director of AEL since September 2008 and as a Director of American Equity Life since June 1996. Ms. Richardson has over thirty years experience in the insurance industry, including nineteen years with The Statesman Group, Inc. ("Statesman") where she served in various positions including vice president-Shareholder/Investor Relations and Secretary.

Wendy L. Carlson has served as Chief Financial Officer and General Counsel of AEL and American Equity Life since June 1999. She has served as a Director of AEL since September 2008 and as a Director of American Equity Life since June 2006. Prior to joining AEL, Ms. Carlson was a member of the law firm of Whitfield & Eddy, PLC, where she practiced law in the areas of insurance, finance, securities and taxation. Ms. Carlson acted as outside counsel to American Equity from 1995, when it was formed, until she joined the company in 1999. Ms. Carlson is also a certified public accountant.

John M. Matovina has served as Vice Chairman of AEL since June 2003. Prior to being appointed Vice Chairman, Mr. Matovina was a private investor since 1996 and a financial consultant to the Company from 1997 to 2000. He has served as a Director of AEL since June 2000 and as a Director of American Equity Life since June 2003. From November 1983 through November 1996, he was a senior financial officer of Statesman and many of its subsidiaries, and prior to Statesman's acquisition in September 1994, he served as Statesman's Chief Financial Officer, Treasurer and Secretary. Mr. Matovina is a certified public accountant and has more than 25 years experience in the accounting and insurance industries.

Ron Grensteiner has served as Senior Vice President of Marketing for American Equity Life since November 1996. At the Company's inception, he and Mr. Wingert comprised its marketing department and together with Mr. Noble built American Equity Life's agency force which today stands at over 46,000 licensed, independent sales agents. Prior to joining American Equity Life, Mr. Grensteiner was a senior marketing officer of Statesman's principal operating subsidiary. Mr. Grensteiner has over 30 years experience in the insurance industry.

ABOUT AMERICAN EQUITY

American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full-service underwriter of a broad line of annuity and insurance products with a primary emphasis on the sale of fixed-rate and index annuities. The company's headquarters are located at 5000 Westown Parkway, West Des Moines, Iowa, 50266. The mailing address of the company is: P.O. Box 71216, Des Moines, Iowa, 50325. For more information, visit our website www.american-equity.com.

SOURCE: American Equity Investment Life Holding Company

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American Equity's Third Quarter 2008 Operating Income Increases 41% to $23.1 Million

American Equity - News Article

WEST DES MOINES, Iowa--(BUSINESS WIRE)--Nov. 5, 2008--American Equity Investment Life Holding Company (NYSE: AEL), a leading underwriter of fixed-rate and index annuities, today reported 2008 third quarter operating income(1) of $23.1 million, or $0.42 per diluted common share, an increase of 41% over third quarter 2007 operating income of $16.4 million, or $0.28 per diluted common share. Performance results for the third quarter of 2008 include:

-- Book value per common share outstanding of $9.92 including
Accumulated Other Comprehensive Loss

-- Annuity sales of $571.8 million, an increase of 5% over third
quarter 2007 annuity sales of $543.8 million

-- Investment earnings of $210.0 million, an increase of 14% over
third quarter 2007 investment earnings of $183.7 million

-- Aggregate gross spread on annuity reserves of 2.83%, an
increase of 11% over third quarter 2007 aggregate gross spread
of 2.55%

The net loss for the third quarter of 2008 was $11.0 million or $0.19 per diluted common share compared to net income of $3.4 million or $0.06 per diluted common share for the same period in 2007. The net loss for the third quarter of 2008 included $39.2 million of realized losses, net of taxes and adjustments to the amortization of deferred acquisition costs and deferred sales inducements, on investments due principally to "other than temporary impairments". This amount also includes a $22.5 million increase in income tax expense for the establishment of a valuation allowance on deferred tax assets. The 2008 and 2007 quarters were also impacted by the effects of SFAS 133, dealing with fair value changes in derivatives and embedded derivatives. The net effect of SFAS 133 was a decrease in the third quarter 2008 net loss of $5.1 million compared to a $13.2 million reduction in third quarter 2007 net income.

MORE THAN ADEQUATE RISK-ADJUSTED CAPITAL

On October 30, 2008 A.M. Best announced that it has affirmed AEL's A- (Excellent) financial strength rating while revising the outlook on the rating from stable to negative in light of present market uncertainties. In affirming the A- (Excellent) rating A.M. Best cited the company's "more than adequate level of risk-adjusted capitalization" for this rating. The statutory capital and surplus of AEL's primary operating subsidiary was $898 million at September 30, 2008 compared to $991 million at December 31, 2007 reflecting the statutory accounting impacts of year-to-date net realized losses on invested assets and accelerated recognition of expense associated with options purchased to fund index credits on index annuities due to the decline in fair value of such options.

Commented David J. Noble, Chairman, Chief Executive Officer and President of AEL: "At $898 million of statutory capital and surplus, American Equity is adequately capitalized to support continued growth in sales at the present pace of approximately $200 million per month. By focusing on credit quality in our invested assets, we have been able to absorb the impact of falling asset values with very little problem. In my 50 years in the insurance industry I've survived many market cycles, and I'm confident that American Equity is well-postured to navigate through the present turmoil." AEL's management has no plans at present to raise additional capital through the issuance of debt or equity securities.

STRONG LIQUIDITY

AEL continues to have strong liquidity with deposits from new sales exceeding surrenders, withdrawals and death claims by approximately $890 million (including coinsurance receipts) for the first nine months of 2008. As a percentage of annuity contract values, outflows from surrenders, withdrawals and death claims for the third quarter of 2008 were at or below the average of each of the last 11 quarters beginning January 1, 2006. In addition, approximately $150 million of cash was provided by operating activities for the first nine months of 2008. At October 31, 2008, the company had drawn $75 million under its line of credit to fund repurchases of common stock and convertible senior debt, and may draw an additional $75 million under this line of credit prior to its maturity in October 2011, which is the earliest any of AEL's outstanding debt becomes due. Because the line of credit has been used in part to repurchase outstanding debt, AEL's ratio of adjusted debt to total capitalization has not increased during 2008 and in fact declined slightly to 29.9% at September 30, 2008 compared to 30.2% at December 31, 2007.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future operations, strategies, financial results or other developments, and are subject to assumptions, risks and uncertainties. Statements such as "guidance," "expect," "anticipate," "believe," "goal," "objective," "target," "may," "should," "estimate," "projects," or similar words as well as specific projections of future results qualify as forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated by these forward looking statements can be found in the company's Form 10-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made and the company undertakes no obligation to update such forward-looking statements. There can be no assurance that other factors not currently anticipated by the company will not materially and adversely affect our results of operations. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

CONFERENCE CALL

American Equity will hold a conference call to discuss third quarter 2008 earnings on Thursday, November 6, 2008, at 10 a.m. CST. The conference call will be webcast live on the Internet. Investors and interested parties who wish to listen to the call on the Internet may do so at www.american-equity.com. The call may also be accessed by telephone at 1-866-713-8307, passcode 22461740 (international callers, please dial 1-617-597-5307). An audio replay will be available shortly after the call on AEL's web site. An audio replay will also be available via telephone through November 27, 2008 by calling 1-888-286-8010, passcode 27418323 (international callers will need to dial 1-617-801-6888).

ABOUT AMERICAN EQUITY

American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full-service underwriter of a broad line of annuity and insurance products with a primary emphasis on the sale of index and fixed-rate annuities. The company's headquarters are located at 5000 Westown Parkway, West Des Moines, Iowa, 50266. The mailing address of the company is: P.O. Box 71216, Des Moines, Iowa, 50325. For more information, visit our website www.american-equity.com.

(1) In addition to net income (loss), American Equity has consistently utilized operating income, a non-GAAP financial measure commonly used in the life insurance industry, as an economic measure to evaluate its financial performance. Operating income equals net income (loss) adjusted to eliminate the impact of (i) net realized gains and losses on investments including related deferred tax valuation allowance; and (ii) the impact of SFAS 133, dealing with fair value changes in derivatives and embedded derivatives. Because these items fluctuate from quarter to quarter in a manner unrelated to core operations, American Equity believes a measure excluding their impact is useful in analyzing operating trends. American Equity believes the combined presentation and evaluation of operating income together with net income (loss), provides information that may enhance an investor's understanding of American Equity's underlying results and profitability. A reconciliation of net income (loss) to operating income is provided in the accompanying tables.

American Equity Investment Life Holding Company
-------------------------------------------------




Net Income/Operating Income (Unaudited)
-------------------------------------------------

Three Months Ended Nine Months Ended
September 30, September 30,
------------------- --------------------
2008 2007 2008 2007
--------- --------- ---------- ---------
(Dollars in thousands, except per share
data)
Revenues:
Traditional life and
accident and health
insurance premiums $ 3,223 $ 3,344 $ 9,419 $ 9,591
Annuity product charges 13,328 12,576 37,271 33,023
Net investment income 209,978 183,732 607,546 528,809
Realized gains (losses)
on investments (58,974) 325 (91,412) 921
Change in fair value of
derivatives (83,753) (10,709) (314,431) 79,755
--------- --------- ---------- ---------
Total revenues 83,802 189,268 248,393 652,099

Benefits and expenses:
Insurance policy benefits
and change in future
policy benefits 2,126 2,360 7,056 6,390
Interest credited to
account balances 50,387 165,821 154,032 449,915
Amortization of deferred
sales inducements 6,760 565 34,193 16,528
Change in fair value of
embedded derivatives (37,100) (19,829) (237,969) (11,476)
Interest expense on notes
payable 3,881 4,039 11,732 12,178
Interest expense on
subordinated debentures 4,669 5,673 14,549 16,876
Interest expense on
amounts due under
repurchase agreements 2,698 4,764 7,694 11,842
Amortization of deferred
policy acquisition costs 19,285 9,013 118,595 60,948
Other operating costs and
expenses 13,490 11,582 38,308 37,076
--------- --------- ---------- ---------
Total benefits and expenses 66,196 183,988 148,190 600,277
--------- --------- ---------- ---------

Income before income taxes 17,606 5,280 100,203 51,822
Income tax expense 28,608 1,837 57,286 17,848
--------- --------- ---------- ---------
Net income (loss) (11,002) 3,443 42,917 33,974
Realized (gains) losses on
investments, net of offsets 39,222 (210) 49,140 (595)
Net effect of SFAS 133, net
of offsets (5,105) 13,189 (32,531) 14,503
--------- --------- ---------- ---------

Operating income (a) $ 23,115 $ 16,422 $ 59,526 $ 47,882
========= ========= ========== =========


Earnings (loss) per common
share $ (0.21) $ 0.06 $ 0.79 $ 0.60
Earnings (loss) per common
share - assuming dilution $ (0.19) $ 0.06 $ 0.77 $ 0.58
Operating income per common
share (a) $ 0.44 $ 0.29 $ 1.10 $ 0.84
Operating income per common
share - assuming dilution
(a) $ 0.42 $ 0.28 $ 1.06 $ 0.81

Weighted average common
shares outstanding (in
thousands):
Earnings per common share 52,916 56,878 54,075 56,899
Earnings per common share
- assuming dilution 55,835 59,774 56,953 60,081

American Equity Investment Life
Holding Company
----------------------------------



Operating Income
Three months ended September 30,
2008 (Unaudited)
----------------------------------


Adjustments Operating
------------------------
As Reported Realized Losses SFAS 133 Income (a)
----------- --------------- -------- ----------
(Dollars in thousands, except per share data)
Reserves:
Traditional life
and accident and
health insurance
premiums $ 3,223 $ - $ - $ 3,223
Annuity product
charges 13,328 - - 13,328
Net investment
income 209,978 - - 209,978
Realized losses on
investments (58,974) 58,974 - -
Change in fair
value of
derivatives (83,753) - 16,813 (66,940)
----------- --------------- -------- ----------
Total revenues 83,802 58,974 16,813 159,589

Benefits and expenses:
Insurance policy
benefits and
change in future
policy benefits 2,126 - - 2,126
Interest credited
to account
balances 50,387 - 720 51,107
Amortization of
deferred sales
inducements 6,760 13,496 (6,859) 13,397
Change in fair
value of embedded
derivatives (37,100) - 37,100 -
Interest expense on
notes payable 3,881 - (243) 3,638
Interest expense on
subordinated
debentures 4,669 - - 4,669
Interest expense on
amounts due under
repurchase
agreements 2,698 - - 2,698
Amortization of
deferred policy
acquisition costs 19,285 19,566 (5,743) 33,108
Other operating
costs and expenses 13,490 - 60 13,550
----------- --------------- -------- ----------
Total benefits and
expenses 66,196 33,062 25,035 124,293
----------- --------------- -------- ----------

Income before income
taxes 17,606 25,912 (8,222) 35,296
Income tax expense 28,608 (13,310) (3,117) 12,181
----------- --------------- -------- ----------

Net income (loss) $ (11,002) $ 39,222 $(5,105) $ 23,115
=========== =============== ======== ==========

Earnings (loss) per
common share $ (0.21) $ 0.44
Earnings (loss) per
common share -
assuming dilution $ (0.19) $ 0.42

(a) In addition to net income, we have consistently utilized operating
income, operating income per common share and operating income
per common share - assuming dilution, non-GAAP financial measures
commonly used in the life insurance industry, as economic
measures to evaluate our financial performance. Operating income
equals net income adjusted to eliminate the impact of net
realized gains and losses on investments, and the impact of SFAS
133, dealing with fair value changes in derivatives and embedded
derivatives. Because these items fluctuate from quarter to
quarter in a manner unrelated to core operations, we believe
measures excluding their impact are useful in analyzing operating
trends. We believe the combined presentation and evaluation of
operating income together with net income, provides information
that may enhance an investor's understanding of our underlying
results and profitability.

CONTACT: American Equity Investment Life Holding Company
Debra J. Richardson, 515-273-3551
Sr. Vice President
drichardson@american-equity.com
or
John M. Matovina, 515-457-1813
Vice Chairman
jmatovina@american-equity.com
or
D. J. Noble, 515-457-1705
Chairman
dnoble@american-equity.com
or
Julie L. LaFollette, 515-273-3602
Investor Relations
jlafollette@american-equity.com

SOURCE: American Equity Investment Life Holding Company

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American Equity - A.M. Best Affirms American Equity's A- (Excellent) Financial Strength Rating

American Equity - News Article

A.M. Best Affirms American Equity's A- (Excellent) Financial Strength Rating; Revises Outlook to Negative, Consistent with Life Industry Outlook

WEST DES MOINES, Iowa--(BUSINESS WIRE)--Oct. 30, 2008--American Equity Investment Life Holding Company (NYSE: AEL), today announced that A.M. Best Company affirmed its financial strength rating of A- (Excellent) while revising the outlook to negative from stable. In affirming the rating, A.M. Best recognized AEL's:

-- More than adequate level of risk-adjusted capitalization

-- Consistently positive GAAP operating results

-- Leading position in the fixed-index annuity segment

-- Favorable surrender charge protection in its annuity business

-- Good asset liability management program including the hedging
of risks associated with its fixed-indexed annuity business

-- Overall business scale that was achieved over the past ten
years

The revision of the ratings outlook is consistent with A.M. Best's negative outlook on the life insurance industry as a whole. As to AEL, A.M. Best noted that while the company's investments in commercial loans have performed as expected to date, in A.M. Best's view, such loans are exposed to heightened financial risks as a result of macroeconomic challenges. In addition, A.M. Best expressed concern over possible volatility in investment earnings and spreads. In response to these questions, AEL is providing the following additional information regarding its commercial mortgage loans and spread management in the current environment.

As of September 30, 2008, AEL had $2.3 billion of commercial mortgage loans representing 17.4% of invested assets. This group of mortgage loans is made up of over 950 individual loans with an average size of $2.4 million per loan. At present all of AEL's commercial mortgage loans are fully performing in accordance with their terms and no facts exist indicating that losses or impairments of value will be recognized in the near term. In addition, these loans have the following characteristics as of September 30, 2008:

-- Weighted average book yield of 6.38%

-- Weighted average loan-to-value ratio of 59.7% based on
appraised values

-- For loans closed in 2008, weighted average loan-to-value ratio
of 56.9% based on appraised values

-- Weighted average debt service coverage ratio of 1.55 times

-- Personal recourse in 55% of loans

-- 25% cash borrower equity required in substantially all cases

-- No interest-only payment schedules, target fully amortizing
loans

-- No defaults, no payment delinquencies longer than 30 days, and
no restructuring of loans

-- Well-diversified by property type and geographic region

AEL continues to view its commercial loans as high quality assets with duration and cash flow characteristics that are well matched to AEL's annuity liabilities.

Gross investment spread (yield on invested assets minus cost of money on annuity liabilities) has been improving throughout 2008 as a result of both an increase in the average yield on invested assets as well as a reduction in the cost of money for annuity liabilities. Spread results for the quarter and nine months ending September 30, 2008 compared to the same periods in 2007 are as follows:

Spread Results
---------------------------------
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -----------------
2008 2007 2008 2007
--------- -------- -------- --------

Average yield on invested assets 6.20% 6.09% 6.18% 6.09%

Cost of money
---------------------------------
Aggregate 3.37% 3.54% 3.45% 3.44%
Cost of money for index annuities 3.36% 3.55% 3.46% 3.42%
Average crediting rate for fixed-
rate annuities
Annually adjustable 3.26% 3.30% 3.26% 3.28%
Multi-year rate guaranteed 3.85% 4.09% 3.90% 4.18%

Investment spread
---------------------------------
Aggregate 2.83% 2.55% 2.73% 2.65%
Index annuities 2.84% 2.54% 2.72% 2.67%
Fixed-rate annuities
Annually adjustable 2.94% 2.79% 2.92% 2.81%
Multi-year rate guaranteed 2.35% 2.00% 2.28% 1.91%

While equity market volatility has risen dramatically in October 2008, AEL's average cost of money on its index annuities was 3.29% for the first three weeks of October, reflecting the facts that: (i) there has been no cost increase in a significant category of option purchases; and (ii) policyholders are electing to allocate a larger percentage of their index annuity fund values to the fixed interest crediting strategy within the products, with the fixed interest rate at 3.25%.

Additional detail on results of operations for the third quarter of 2008 will be discussed in the company's earnings call scheduled to occur on November 6, 2008.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future operations, strategies, financial results or other developments, and are subject to assumptions, risks and uncertainties. Statements such as "guidance," "expect," "anticipate," "believe," "goal," "objective," "target," "may," "should," "estimate," "projects," or similar words as well as specific projections of future results qualify as forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated by these forward looking statements can be found in the Company's Form 10-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements. There can be no assurance that other factors not currently anticipated by the Company will not materially and adversely affect our results of operations. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

ABOUT AMERICAN EQUITY

American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full-service underwriter of a broad line of annuity and insurance products with a primary emphasis on the sale of index and fixed-rate annuities. The company's headquarters are located at 5000 Westown Parkway, West Des Moines, Iowa, 50266. The mailing address of the company is: P.O. Box 71216, Des Moines, Iowa, 50325. For more information, visit our website www.american-equity.com


CONTACT: American Equity Investment Life Holding Company
Debra J. Richardson, 515-273-3551
Sr. Vice President
drichardson@american-equity.com
or
John M. Matovina, 515-457-1813
Vice Chairman
jmatovina@american-equity.com
or
D. J. Noble, 515-457-1705
Chairman
dnoble@american-equity.com
or
Julie L. LaFollette, 515-273-3602
Investor Relations
jlafollette@american-equity.com

SOURCE: American Equity Investment Life Holding Company

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INDEX ANNUITIES - QUESTIONS YOU SHOULD ASK YOUR AGENT OR THE COMPANY

You should ask the following questions about equity-indexed annuities in addition to the questions in the Buyer's Guide to Fixed Deferred Annuities.

How long is the term?
What is the guaranteed minimum interest rate?
What is the participation rate? For how long is the participation rate guaranteed?
Is there a minimum participation rate?
Does my contract have an interest rate cap? What is it?
Does my contract have an interest rate floor? What is it?
Is interest rate averaging used? How does it work?
Is interest compounded during a term?
Is there a margin, spread, or administrative fee? Is that in addition to or instead of a participation rate?
What indexing method is used in my contract?
What are the surrender charges or penalties if I want to end my contract early and take out all of my money?
Can I get a partial withdrawal without paying charges or losing interest? Does my contract have vesting? If so, what is the rate of vesting?
Final Points to Consider

Remember to read your annuity contact carefully when you receive it. Ask you agent or insurance company to explain anything you don't understand. If you have a specific complaint or can't get answers you need from the agent or company, contact you state insurance department.

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