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September 13, 2010

Pacific Life Eliminates Structured Settlement Lock In Fees*

by John Darer® CLU ChFC CSSC RSP

Pacific Life Structured Settlements has announced that it is eliminating structured settlement lock in fees for up to 6 months on all cases, effective immediately

Cases that are funded beyond the anticipated lock in date will be able to maintain the same cost provided the benefit dates are moved an equal number of days to the delayed funding.  * note funding must occur within 6 months of the lock in

The underwriting concession makes it easier to place structured settlements in a shifting interest rate environment where:

  1. One or more court approvals, or CMS approval, is/are required and the defendant is hesitant to pre-fund the structured settlement.
  2. Cases which involve statutory funding delays exist, such as City of New York or the New York State Liquidation Bureau, Pennsylvania CAT Fund etc.
  3. Cases where one cannot pinpoint the exact funding date on the date of settlement due to conditions precedent to funds being released

Pacific Life includes Pacific Life & Annuity Company, which underwrites structured settlement annuities used in New York settlements, as well as Pacific Life Insurance Company, which underwrites structured settlement annuities in all states, except New York.

Thank you Pacific Life and Annuity

Postscript

Learn more about structured settlement rate lock ins.

The Structured Settlement Rate Lock-in | A Critically Important Tool

 

Posted at 07:04 PM in Albany New York Structured Settlements, Boston Structured Settlements, Bowling Green Kentucky Structured Settlements, Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Cary NC Structured Annuity, Cary Structured Settlements, City of New York As Defendant in Law Suits, New York Annuities, New York City Structured Settlements, New York Settlement Planning, Newport Beach Structured Settlements, News About Structured Settlements, Pacific Life Structured Settlements, Structured Settlement Industry News, Structured Settlement Information, Structured Settlement Lock In, Structured Settlement Quotes, Structured Settlements, Structured Settlements in California, Structured Settlements New York, Suffolk County Structured Settlements, TX structured settlements, Westchester Structured Settlements, White Plains Structured Settlements, WV Structured Settlements |

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Guide to Structured Settlements 2025

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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
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  • What Are Market Based Structured Settlements?
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  • Firmwide Qualified Settlement Funds Debunked
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Why Take a Structured Settlement?

  • A structured settlement offers guaranteed financial security to personal injury victims, wrongful death survivors and their families. A structured settlement involves a customized stream of payments, provides long-term stable tax-free income, for a period of years or a lifetime. Unlike other income annuities. a structured settlement annuity can have multiple payment streams to address multiple needs in a single contract.

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