Nassau Life and Annuity Company
I had a Thrift Savings Plan through my job. When I turned 72 I selected the Nassau life and Annuity Company on the advice of a friend. Now I am worried about whether Nassau is a good annuity company. If it is not I don’t know how to undo what I have done.
Terry Says
That wasn’t a very smart friend. Nassau has a B++ rating from AM Best — the lowest of its “good” ratings. So it’s very middle of the road.
Life insurance firms are protected only by state guarantee funds, which don’t exist until a failure.
It’s too late to do anything about it now since you likely elected a lifetime annuity monthly payout.
If that’s not the case, you could roll to a different company, depending on policy surrender charges.
