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Are annuities regulated? It seems a pretty straightforward business model to take in payments for a few years and then declaring bankruptcy.
by maxxxxx 7y ago
Are annuities regulated? It seems a pretty straightforward business model to take in payments for a few years and then declaring bankruptcy.
- dev_dull 7y agoJust because something is regulated doesn’t mean it’s safe and definitely doesn’t mean it’s guaranteed. For example, US social security funds are solvent until 2035 according to our own government accounting[1]. 1. https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html
- maxxxxx 7y agoIt's not like it will disappear after 2035. Some adjustments have to be made like probably raising the retirement age but that doesn't mean that the system doesn't work.