Chris-Magnussen-29-What are State Guaranty Associations
Chris Magnussen explains that annuities are guaranteed at the state level through State Guaranty Associations, which protect contracts up to $250,000.
Video Transcript
I'm asked "are annuities guaranteed?" and annuities are guaranteed. However they are at the state level, unlike FDIC and SIPC, which are federal programs. Insurance is regulated at the state level. So that each state has a State Guarantee association that will guarantee that annuity up to $250,000 in value.
