Leslie Scism

speaker

504 appearances 9 recordings 1 series first heard Sep 2017 last heard May 2023

Leslie Scism’s voice in public audio — every appearance, attributed to the second.

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So to get your premium back, that's the only right thing the insurance companies could do. matched

They had to do that. matched

But, you know, like in one instance, I think the Labor Department said a family got back $8,000. matched

in premium from years and years of payment, whereas they were counting on some large death benefit. matched

So to get back $8,000 in premium is nice, but it's not going to make up for that missing death benefit. matched

But the insurance companies were denying the benefits on the employer's mistakes. matched

So these people just have a bad taste in their mouth. matched

And some of them had sued the insurance companies in federal court. matched

And that's partly how the Labor Department knew the problem existed. matched

These lawsuits were proliferating. matched

WSJ Your Money Briefing · Annuities Gain Favor Amid Stock Turmoil · 21 Jul 2022 podcast

It works as a savings contract.

It is an annual interest rate it promises to pay you.

And it's going to pay that per year.

And then at the end of that period, you're going to get your money back.

You'll get your principal and your interest.

Oh, thank you.

My pleasure.

It works as a savings contract akin to a bank certificate of deposit.

You will hand over a lump sum to a life insurance company.

The life insurer then will invest that money, typically in bonds, typically high-quality bonds.

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