The area in red on this chart show the total number of people in history that have lost money in an FDIC insured account or in a fixed annuity covered by a state guarantee fund because the bank or insurer failed.

(there is no red area because no one has lost money)

The California Insurance Department released an annuity report that says "in a fixed annuity the amount remaining in the annuity at the annuitant ’s death stays with the insurance company." This is WRONG - it would only be true if you chose the most restrictive annuitization payout option (and even in this case the early dead balance the scales for the extra life only income paid out to the late dead; it isn't extra profit for the carrier it is pooling of risk). The insurance company DOES NOT KEEP YOUR MONEY IF YOU DIE when you own a deferred fixed annuity. We hope California fixes this incredible misstatement soon.