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
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.
- posted 12 years ago