Average Rating: Select ratingPoorOkayGoodGreatExcellent

Avg: 5 (1 vote)

Our organization has never reinsured one of its gift annuities and we are seriously considering a move that direction. One early step we may take is to include the possibility of reinsurance in our general gift annuity disclosure statement. This is rough and off the top of my head, but something along the lines of, "XYZ Organization reserves the right to reinsure gift annuities. XYZ Organization understands that, even in the case of a reinsured annuity, XYZ remains liable for payments during the annuitants' lifetime." I think this makes sense, but don't know where to turn to find a good example of such disclosure language. So I am first looking for any suggestions regarding a source for disclosure language. Second, would appreciate any thoughts regarding the wisdom of addressing reinsurance in our gift annuity disclosure language. Thank you all.