Safe Money

Recently the Government announced that it would be willing to extend $22 Billion of TARP funds to a select group of insurance companies. At first blush, this would seem to indicate that the insurance industry, which has avoided the troubles of other financial institutions, are about to undergo some difficulities of their own.

However, most of the insurance companies targeted have already said they are "not interested" and only two have indicated interest (Hartford and Lincolm Financial). Both Hartford and Lincoln Financial have been burned badly in the recession as a result of more aggressive practices prior to the economic downturn.

I check the insurance companies I use on a regular basis....they are as safe as the banks, (as long as you don't go over certain limits---300K in SC, 100K in IN). Did you know that FDIC insurance has up to 99 years to pay you if the bank goes under?