I have a question not a complaint. I have an IRA annuity with Transamerica Ins. Co (member of AGEON CO). Unlike a bank CD with FDIC protection I've been told each insurance company is required to maintain a fund to insure payout and that if the ins. company fails the State also has a fund that might assist with payout. I don't know how to access information on this to assess the risk
I'm taking with leaving my money in 3 annuity accounts. I was told by Transamerica Ins. Co they invest only in conservative instruments such as bonds.

I have the ratings on Transamerica, but how do I find out if they are adequately funded for payouts and how to I find out if the State of Oregon has an adequate fund to bail out this company if it fails? I hope you can help me find information on this. I called the Co and they told me about the above mentioned funds (regulation) and ratings, but could not answer the question about risk involved in health of their and St or Oregon's payout/bailout" funds. Thank you for any information.

This is a very complicated issue.

Every insurance company claims it invests only in conservative investments, even the ones that failed.

State guaranty funds have limits per customer -- which vary from $100k - $500k per customer, depending on the state you live in, and the type of product you hold.

Plus unlike the FDIC that has a real "fund" based on assessments (although the recent round of insolvencies has significantly depleted the FDIC's fund) and the power to call on the Federal Government to advance money, the state inusrnace guarantee funds have never been tested in a pandemic of insolvencies."