I am considering, at some point, purchasing immediate or deferred fixed income annuities, to provide a "guaranteed" source of income, and as a sort of longevity insurance.
If I do this, one risk I would like to try to minimize is the risk of issuer default/insolvency. It seems to me one way to do that is to purchase annuities from a number of different issuers, and to stay below the applicable state guaranty limit for each purchase. This would not provide 100% iron-clad protection, but it seems better than doing nothing to address this risk.
Have any of you actually done this?
If I do this, one risk I would like to try to minimize is the risk of issuer default/insolvency. It seems to me one way to do that is to purchase annuities from a number of different issuers, and to stay below the applicable state guaranty limit for each purchase. This would not provide 100% iron-clad protection, but it seems better than doing nothing to address this risk.
Have any of you actually done this?