Covid and Annuities

[UtahSkier]

I have an elderly parent who is probably high risk and I had this thought today.

Back in March and April, the Auto insurance companies issued refunds because of the reduced driving related to COVID lockdowns. They probably didn't want to be seen as profiteers during a pandemic.

I wonder if the same could apply to the annuity issuers? I think they will have windfall profits because of the pandemic.

 

[MichaelB]

The title says COVID but this thread is really about annuities, so moving to the Money forum.

 

[Out-to-Lunch]

I have an elderly parent who is probably high risk and I had this thought today.

Back in March and April, the Auto insurance companies issued refunds because of the reduced driving related to COVID lockdowns. They probably didn't want to be seen as profiteers during a pandemic.

I wonder if the same could apply to the annuity issuers? I think they will have windfall profits because of the pandemic.

But those annuity issuers were probably hedged/balanced by issuing life insurance policies, I would think.

 

[Chuckanut]

I am looking to join a Tontine made up mostly of non-mask wearing, Covid scoffing, anti-vaxxers.

 

[GenXguy]

Back in March and April, the Auto insurance companies issued refunds because of the reduced driving related to COVID lockdowns.

American Family sent a notice that I was going to get a discount on my premium. It ends up, that percentage was only applied to the minimum payment due, and if you paid off the full premium, as I do to avoid the administration charges, you still got the same small discount in dollars, so it ended up being a much smaller percentage of actual discount on the premium.