If an insurance company goes out of business state agencies work to protect customers and ensure that the maximum amount of claims are paid out. Each state has varying maximums so it’s important to know what these limits are.
For income annuities which provide a lifetime guarantee of income, Blueprint Income only offers products from insurance companies with an A.M. Best rating of A or higher. For fixed annuities with shorter-term guarantees of 3-10 years, Blueprint Income offers products from insurance companies with A.M. Best ratings of B or higher.
The stronger the rating of an insurance company, the more likely it is to repay any outstanding claims it has. Accordingly, an insurance company with an A++ rating has consistent financial performance, a strong corporate and managerial structure, and credible payment history.
Independent agencies, such as A.M. Best and S&P, rate the financial strength of insurance companies on a scale from D to A++. The rating indicates the credibility and ability an insurance company has to repay any claims to customers.
Blueprint Income offers annuities from top-rated insurance companies with long histories of financial strength. It is these annuities that make up the Personal Pension and its guarantee. We are continually cultivating our relationships with insurance companies and only work with those whose mission aligns with Blueprint Income.