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AIG - Do they buy PM's?
moonshine
Posts: 1,039 ✭✭
Does AIG invest in PM's? Maybe that is why they are losing their - you know what.
I know this is not a PM company, but I just read they are having big problems, and I have some whole life insurance with them, and wonder what would happen to it if they go under? Will I just lose all of my investment? Will anyone be accountable?
To keep this on topic - where is safest place for PM's considering all the talk of bank failure .... I have mine at my local bank Safe Dep. Box, but thinking I better go get them out.
Any word from fed yet?
I know this is not a PM company, but I just read they are having big problems, and I have some whole life insurance with them, and wonder what would happen to it if they go under? Will I just lose all of my investment? Will anyone be accountable?
To keep this on topic - where is safest place for PM's considering all the talk of bank failure .... I have mine at my local bank Safe Dep. Box, but thinking I better go get them out.
Any word from fed yet?
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Comments
If it is a small unit...have it secured to the floor.
Purchase it from a REAL safe co. ... not a lock- hock & gun shop.
You can always keep the SDB & put your items in it when you are going to be away for an extended time.
Remember the #1 rule of home security....... KEEP YOUR MOUTH SHUT!!!
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Silver is the mortar that binds the bricks of loyalty.
as in message not metal
Regarding the whole life policy don't panic and make a bad move. Even in the event the insurer itself goes under there are two likely outcomes. First an insurer will most likely assume the book. Second many states have guarantee associations, if an insurer goes under there is X number of dollars that will cover claims and cash values. Many states dont have any sums set aside but instead all the other insurers may be assessed (usually based on market share) to cover the shortfall. Minnesota has $300,000 for claims and $100,000 for cash value.
This means for a whole life policy which still has a surrender period charge involved or if your health status has changed (either causing tabling charges or perhaps making you uninsurable) cancelling the policy may not be in your interest.
Insurance is the real value.
No one knows the "real" Derivative BS, especially AIG.
Much of these 'bad' assets are off Balance sheet, off shore................
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