Does SIPC Cover Annuities?

  1. 250 POINTS
    Carl Busseau
    Roseville, CA
    SIPC covers securities investments in the event of a Broker Dealer default or insolvency.  The coverage is up to $500,000.  Annuities are not covered by SIPC because they are insurance products and are therefore covered by State reinsurance programs specific to the state that the annuity is offered and sold in.
    Answered on March 5, 2014
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