I am very interested in purchasing a VA offered by Jefferson National Life called "Monument Advisor". This product is very appealing to me for these reasons:
1) You pay a flat fee for M&E expenses of $20.00 per month. This is guaranteed to remain constant during the life of the contract. 2) They offer about 165+ (and growing) funds as investment options. Most of these funds are with well-known, well-established fund families.Obviously, this product is designed for someone like me who is just interested in growing assets tax deferred and not interested in any insurance features. After researching this product, the only possible fly in the ointment that I can find is that the insurance company itself (Jefferson National Life) has a B+ rating.
Should this concern me at all? My understanding is if the insurance company should go belly-up, my funds will be safe because in VA products they are held at the actual mutual fund institutions instead of the insurance company. Am I correct on this or is there something else that can bite me should something go amiss with the company? Your opinions shall be greatly valued and appreciated.