A monetary establishment, beforehand working in the US, provided annuity and life insurance coverage merchandise. These merchandise are designed to offer people with a stream of revenue throughout retirement and monetary safety for beneficiaries within the occasion of the policyholder’s dying. For instance, a retiree may buy an annuity to ensure a set month-to-month fee for the rest of their life.
Such entities performed a major function within the monetary planning of many people and households, providing instruments for long-term financial savings and threat administration. Their legacy typically entails the honoring of present contracts and the continued provision of companies to policyholders, even after a change in possession or operational standing. The historic context of the sort of group is tied to the expansion of the insurance coverage trade and the rising want for retirement safety within the US.
