AIG Annuity Changed to Western National, Why?

[CALTCAgent]

Client told me they had Fixed Annuity with AIG Annuity Ins. Co. and that they were sent a letter a few years ago saying that the company was changing to Western National Life Ins. Co.

I have the old AIG policy, there was no new policy sent to client.

Anybody know if AIG Fixed Annuity changed to Western National?

Possibly just a name change to dodge bad press?

Thanks

 

[bark3005]

Does it really matter?

 

[STIBROKER]

AIG is owned by the gov. now.....they can do what ever they want to now......

 

[CALTCAgent]

Does it really matter?

Apparently, you posted a response.

 

[Norwayguy]

Apparently, you posted a response.

Really the only thing you need to know is not why because you can't do anything about it. The important thing ii this annuity still the right fit for your client...I think you mentioned no surrender charges...What type of annuity is it Fixed, Indexed or Variable. If fixed whats the current rate and what is the guaranteed minimum.

What forms are required if any to get the money out...what tax status is the annuity registered as non-Qual, Qual IRA, 403(b) etc..

 

[CALTCAgent]

Really the only thing you need to know is not why because you can't do anything about it.

I wanted to know if this is just a company name change or a new annuity. I do believe this could be relevant information.

The important thing ii this annuity still the right fit for your client...I think you mentioned no surrender charges...What type of annuity is it Fixed, Indexed or Variable. If fixed whats the current rate and what is the guaranteed minimum.

What forms are required if any to get the money out...what tax status is the annuity registered as non-Qual, Qual IRA, 403(b) etc..

You are preachin to the choir!

 

[bark3005]

I was just messing with you, they actually changed their name about 2 years ago? Same product, just a name change because of bad press.

 

[CALTCAgent]

I was just messing with you, they actually changed their name about 2 years ago? Same product, just a name change because of bad press.

Thanks!

Good to know!