A qualified assignment fee is an administrative charge by a qualified assignment company for taking on the obligation to make periodic payments from a Defendant or Defendant's insurer as part of the process of setting up a structured settlement. Qualified Assignment Fees generally range from $250 to $750. Hartford LIfe Insurance Company has announced that its assignment company Hartford CEBSCO will be charging no assignment fee for structured settlements payable to plaintiffs. A $250 qualified assignment fee applies to structured attorney fees, which is still very competitive.
The Hartford Life structured settlement program has a qualified assignment company whose assumed periodic payment obligations are backed by two guarantors, Hartford Life Insurance Company (the annuity issuer) and Hartford Life, Inc. The link below leads to a helpful chart that demonstrates the Hartford life qualified assignment program.
The size of a qualified assignment fee, or whether or not a company charges a qualified assignment fee, may or may not matter. A market survey by a structured settlement broker or settlement will help determine if it does. In some cases it means a little extra can go to the injury victim. Some structured annuity issuers have minimum premiums or charge a small case policy fee for premiums less than a certain level. In Hartford's case the small case fee applies for premiums less than $25,000.
For more information about qualified assignments and the process of setting up structured settlements you may find the educational video to be helpful.