I received an article recently and it really woke me up to the realities of saving for the future of both both my valued customers and my own family.
No one has ever lost their principle on a fixed annuity due to an insurance company failing. That’s not always the case for the FDIC… And just to give you an idea of how the banks are doing… From 1994 through 2008 there were 94 bank failures. Just last year alone, 140 banks failed and so far 67 have failed this year in 2010. And that number is expected to climb considerably. So not only is the stock market shaky right now… but banks so peachy either.
They are asking why I am not selling annuities but fortunately at Palmer Insurance of Vermont we saw the storm coming and annuities was one great way of providing shelter during the turbulent financial times ahead.