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June 07, 2006

Don't Rely on JG Wentworth IF You Want Structured Settlements

JG Wentworth is NOT the leader in the structured settlement industry, providing .... be cause what they provide is not structured settlements, by their own definition! (see below).

JG Wentworth is NOT the leader in structured settlements. Reading JG Wentworth's own web page (excerpt below). You don't have to be a rocket scientist to figure the inconsistency.

Mired in the small print on JG Wentworth's web pages" (bold and underlined for emphasis)

"Structured Settlements are funded by annuities. These single premium annuities are purchased to provide a pre-determined payment stream to the payee. These annuities have similarities to investment annuities; they are backed by an insurance company and provide for a long-term payment stream. However, these annuities differ in other aspects: they are not owned by the payee, they are tax free and they can be sold only with judicial approval or a hefty excise tax. Many times, an income stream recipient may be unaware of whether the asset they hold is an investment annuity or a structured settlement annuity. Please call so that we may be of assistance."

AS I"VE PREVIOUSLY WRITTEN, IF YOU WANT A STRUCTURED SETTLEMENT, ARE CONTEMPLATING A STRUCTURED SETTLEMENT, OR GETTING CLOSE TO THE RESOLUTION OR SETTLEMENT OF YOUR PERSONAL INJURY CASE DON"T BOTHER TO CALL JG WENTWORTH!

If you want a structured settlement, are contemplating a structured settlement, reviewing a structured settlement proposal, evaluating structured settlement options, speak to an insurance licensed, experienced structured settlement broker professional or settlement planner, preferably one that is a Certified Structured Settlement Consultant and a member of the National Structured Settlement Trade Association.

One of those folks will know that you cannot be awarded a settlement. Like, duh! JG Wentworth states that you can. If it were possible, it would probably be for the first time. In fact their "details of structured  settlements" page describes, in part incorrectly, the factoring process not the structured settlement process.  Who in the world is doing their copyrighting anyway Nina?

Lawyers, financial planners, settlement planners, structured settlement brokers, consultants , experts and planners, guardians and judges, do you want JG Wentworth educating your clients or wards based on the evidence presented? And to the other factoring companies who get it, do you want JG Wentworth and its whisker twidling 1970s stylesuited spokeman to be the face of your industry?

JG Wentworth is still big on predatory "dreams" advertising as an inducement for its services. It would be interesting to conduct a study of people who sold their structured settlement payment rights to JG Wentworth and other factoring companies, monitoring a sample. 3, 5 or 10 years later to see who still has the dough? It would be interesting to see if those people still felt they made the correct decision.

Posted at 06:51 PM in Settlement Advertising Wall of Shame, Settlement Planning Issues, Structured Settlements |

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Guide to Structured Settlements 2024

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    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Top Structured Settlement Annuity Companies 2024
    Which life insurance companies issue structured settlement annuities in 2024? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated June 14, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2024
    Ways You Can Structure Your Settlement Payments in 2024. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Attorney Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team in 2024.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
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  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
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