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June 07, 2008

What Is A Structured Settlement "License"?

by Structured Settlement Watchdog®

A number of structured settlement industry/settlement planning industry web sites, including one in New York, advertise that one or more individuals are a "licensed structured settlement broker".

There are structured settlement brokers who hold life insurance broker's licenses , or agent's licenses for life insurance (in most states that includes non variable annuities) with carrier appointments, in the various states where they solicit annuity or insurance business. There is, however no such thing a "structured settlement license".

People that place structured settlements are required to possess a valid life insurance license as one of the prerequsities to receiving an appointment from the top life insurance companies who write structured settlement annuities. 

Generally structured settlement brokers are required, by the annuity issuer, to be licensed in their home state as well as the state where the qualified assignment company is based.  A number of structured settlement consultants go further and are licensed in the states where they solicit business.

A number of individuals and  companies that purchase structured settlement payment rights deceptively try to position themselves as a "structured settlement broker". Those individuals and companies do not actually place annuities and only pay you cash in exchange for the right to receive your payments. These individuals and companies are more than likely NOT life insurance licensed and highly unlikely to have been appointed to place structured settlements by any structured annuity issuer or alternative periodic payment provider involved with the placement of structured settlements funded by United States Treasury Bonds.  ("Treasury Funded Structured Settlements")

If you run into someone that advertises that they are a "licensed structured settlement broker", after you lower your "jaundiced eye", you should ask if they possess a valid life insurance license in your state. Many states give you the ability to verify license information on line.

 

Posted at 03:59 PM in Albany New York Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Cleaning Up "The Structured Settlement Neighborhood", Conshohocken Structured Settlements, Corpus Cristi Structured Settlements, Denver Structured Settlements, Detroit Michigan Structured Settlements, False Advertising Re Creating, Buying or Selling Structured Settlements, Greenwich Structured Settlements, Hartford CT Structured Settlements, Jacksonville Florida Structured Settlements, Lexington KY Structured Settlements, Misinformation About Structured Settlements, Missouri Structured Settlements, NC Structured Settlements, New Jersey Structured Settlements, New York City Structured Settlements, New York Structured Settlements, NH structured settlements, NJ Structured Settlements, North Carolina Structured Settlements, NYC Structured Settlements, Oklahoma Structured Settlements, Philadelphia PA Structured Settlements, Rhode Island Structured Settlements, Rochester Structured Settlements, Settlement Planner Credentials, St. Louis Structured Settlements, Structured Settlement Broker Business Practices, Structured Settlement Brokers, Structured Settlement Credentials, Structured Settlement Watchdog®, Structured Settlements, Structured Settlements Arkansas, Structured Settlements Florida, Structured Settlements in Florida, Structured Settlements in Georgia, Structured Settlements in Illinois, Structured Settlements in Maine, Structured Settlements in Maryland, Structured Settlements in Miami Florida area, Structured Settlements in Nassau County, NY, Truth in Advertising Structured Settlements, Tulsa Structured Settlements, TX structured settlements, VA Structured Settlements, West Virginia Structured Settlements, WV Structured Settlements |

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Guide to Structured Settlements 2024

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Qualified Settlement Funds

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