TIAA

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Aug 20, 2020

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Company Details
Address: 730 Third Avenue
City: New York
State: NY
ZIP Code: 10017-3206
Phone Number: 800-842-2252
AM Best Rating: A++
URL where was collected the AM Best Rating: http://www.ambest.com/ratings/
Lines of Insurance: life
States Licensed To Sell Insurance In: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
Type of Insurance Company: Mutual
Top executive Contact: Herbert M. Allison, Jr.
Title of Top executive: Chairman/CEO
Assets & Premiums: 2006 assets: $406+ billionS&P rating: AAA (extremely strong)Moody's rating: AaaFitch rating: AAA (very strong)
Company Rating 1.8 (5 reviews)

Company Overview:


Company History: Established 1918, TIAA-CREF Insurance is now a Fortune 100 company.Teachers Insurance and Annuity Association of America (TIAA) and its companion organization the College Retirement Equities Fund (CREF) are based in New York and together rank as one of the 100 largest U.S. companies according to Fortune Magazine. TIAA is also one of a handful of life insurance companies to receive the highest possible ratings from all four major independent rating agencies: Moody’s, A.M. Best, Standard and Poor’s and Fitch. In the early years of the 20th century, philanthropist Andrew Carnegie realized that colleges needed to offer adequate pensions to attract qualified teachers, so his Carnegie Foundation established the Teachers Insurance and Annuity Association in 1918 and gave it an initial grant to start its funding. Teachers Insurance and Annuity Association of America was established with a unique organizational structure designed for its mission and authorized by the New York State Insurance Department. Its primary product, fixed annuities, has assured retirement income for nearly 90 years for those in the academic, medical, cultural and research fields. Together with CREF, which provides variable annuity plans, a life insurance subsidiary (TIAA-CREF Life Insurance Company) and a savings bank, Teachers also offers an array of financial products and services (including life insurance, trust services, a real estate separate account, and mutual funds) through its corporate clients and representatives who do not receive commissions – part of its efforts to minimize costs. College Retirement Equities Fund (CREF) was established in 1952 to provide retirement income based on the performance of common stocks. This fund became the first variable annuity. Later TIAA established the TIAA Real Estate Account. After the passage of the 1997 Tax act, TIAA-CREF lost its tax deduction, but began to add some new products and services and to make some of its mutual funds and other offerings available to the general public. In addition, the company has been serving the tuition financing market (state sponsored 529 plans).Today TIAA-CREF serves over three million policyholders at over 15,000 colleges, universities and other medical and research organizations in the United States.
Principle Sales Methods: Career Licensed Insurance agents.Through educational, medical and non profit institutions and non-commission representatives.

Life Annuity Business: TIAA-CREF Insurance sells Term and Permanent Life and Annuity insurance policies to individuals.TIAA’s primary product, fixed annuities, has assured retirement income for nearly 90 years for those in the academic, medical, cultural and research fields. Together with CREF, which provides variable annuity plans, a life insurance subsidiary (TIAA-CREF Life Insurance Company) and a savings bank, Teachers also offers an array of financial products and services (including life insurance, trust services, a real estate separate account, and mutual funds) through its corporate clients and representatives who do not receive commissions – part of its efforts to minimize costs. College Retirement Equities Fund (CREF) was established in 1952 to provide retirement income based on the performance of common stocks. This fund became the first variable annuity. Later TIAA established the TIAA Real Estate Account. After the passage of the 1997 Tax act, TIAA-CREF lost its tax deduction, but began to add some new products and services and to make some of its mutual funds and other offerings available to the general public. In addition, the company has been serving the tuition financing market (state sponsored 529 plans).

Special Business: TIAA-CREF sells annuities and investments to Academic, Research, Medical and Cultural Institutions.

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