Berkshire Hathaway -Warren Buffets Company purchased Hartford Variable Annuity last week, for $ 250 million. Hartford wants to focus on their Property Casualty Division. The problem is those contracts with living benefit riders; also known as lifetime withdrawal benefit riders. Hartford, like a lot of insurance companies, has recognized that it severely Mis-priced the market risk for these riders. In order for them to work, Hartford needed the stock market to perform better than it has over the past several years. As a result, the company is left holding the bag on a large amount of promises, and they want out! Make sure you have a financial plan not a product for your Retirement. What you should do is sit down with a Retirement Planning Specialist, someone who is experienced with different types of annuities, so you can get objective advice on the following: 1. Should you accept the buy- out at all. 2. Does it make sense run comparisons an analyze options If you find yourself in this situation contact us:419-633-0955 a Retirement Planning Specialist will run a comparison search across all companies to find which specific company and which specific annuity delivers the best value to you for your individual situation. Source: investmentnews/article/20130313/FREE/130319965 and Bloomberg TV Survellance with Tom Keene broadcast 6-27-2013
Posted on: Mon, 08 Jul 2013 23:53:12 +0000
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