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March 02, 2007

Allstate International Assignments, Ltd. is a new name for NABCO

by John Darer CLU ChFC CSSC
 
Allstate  Life Insurance Company announced the name for its NABCO Assignments, Ltd. facility has changed to Allstate International Assignments, Ltd. effective March 1, 2007. 
*****
Allstate International Assignments, Ltd. is a special purpose corporation formed for the purpose of accepting periodic payment obligations by way of non qualified assignments, including employment litigation settlements, divorce structured settlements, compromised workers compensation claims and Structured Installment Sales transactions and others. It is resident in Barbados and its transactions are governed by the Taxation Treaty between the United States and Barbados. It is registered with the IRS and holds a US Tax ID number.
 
*****
  The name change is a smart move by Allstate, clearly designed to take advantage of the power of the Allstate brand. Structured sales transactions stand to benefit the most by the name recognition. Selling homeowners contemplating a structured installment sale method to dispose of their property, in lieu of a 1031 Exchange,  may already have Allstate homeowners or car insurance. Structured installment sales may also be used as an exit strategy for business owners.
 

Posted at 05:20 PM in Allstate International Assignments Ltd.NQA, Allstate Structured Settlements and Structured Payment Solutions, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Chicago Illinois Structured Settlements, Detroit Michigan Structured Settlements, Insurance Company News, Non Qualified Assignments, Retirement Planning, Structured Attorney Fees, Structured Environmental Settlements, Structured installment sales, Structured Property Settlements, Structured Punitive Damages, Structured Sales, Structured Settlement Definitions, Structured Settlement Information |

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Structured Settlements 4Real

The settlement documents will stipulate the rights of the structured settlement payee to change the beneficiary. The fact that NABCO, now Allstate International Assignments, Ltd. has denied your request suggests that a restriction on such action is contained in the original settlement documents. Such a restriction is common with structured attorney fees to avoid an element of control which would trigger constructive receipt.

Posted by: Structured Settlements 4Real | April 13, 2007 at 02:37 PM

Emile Mullick

I have an annuity issued by Allstate, I requested a change in beneficiary, I was told that "NABCO" has not approved the change,the Allstate "call center" has no clue as to how to dispute this or even how to contact "NABCO". It seems ALLSTATE is now NABCO. How do I request a change in beneficiary?

Posted by: Emile Mullick | April 13, 2007 at 02:20 PM

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Structured Settlement Best Practices Corner

  • 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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