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April 08, 2011

Structured Settlement Annuities: Interest Among Life Insurers is Increasing As New Companies Enter

Interest in single premium immediate annuities is emerging among insurers, financial advisers and clients, according to the April 2011 issue of Best's Review (p68). Structured settlement annuities combined elements of single premium immediate annuities and deferred annuities as well as other types of cash flows.

The second and quarters are slated to see the largest increase in structured settlement market capacity for some time with the following companies entering or returning and increasing overall capacity

In now

Berkshire Hathaway (returned to the market)

May 1, 2011

USAA Life and USAA Life of NY (wider rollout for use beyond USAA casualty cases)

June 2011 (estimated)

United of Omaha

July 2011

Hartford Life Insurance Company (returning to the market after 1 1/2 years).

Tulsa Oklahoma "head hunter" Richard B. Risk, Esq. didn't kill them after all. Apparently it was just a "flesh wound"

Best Review says (and plaintiff attorneys and plaintiffs should take note) "the problem for advisers has always been that SPIA purchases (and structured settlements) detract from assets under management. a basis for how much advisers get paid in their practices".

CAVEAT TO PLAINTIFF LAWYERS, ADJUSTERS and INJURED PERSONS

While we heartily welcome all these markets back, recognize that life insurance companies are institutional "battleships", that roll out their product slowly so they can gear up their systems to handle capacity. The structured settlement watchdog would like to issue a warning that some early structured settlement broker appointees may attempt to solicit you based on the idea that they have one or more markets than another company. Don't fall for the trap.  There are plenty of high quality structured annuity companies in play now and, regardless of how many markets enter, some of the companies that are already in play have shown stability by having stayed the course during and after the financial crisis.

Also please note that some of the new entrants may be niche players , have unique underwriting requirements and may not offer rated ages.

Posted at 11:52 AM in Berkshire Hathaway Structured Settlements, Hartford CT Structured Settlements, Hartford Life Insurance Company, Mutual of Omaha Structured Settlements, New York City Structured Settlements, New York Structured Settlements, Structured Annuity Issuer, Structured Settlement Industry News, Structured Settlements in Connecticut, United of Omaha, USAA Life Structured Settlements |

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Guide to Structured Settlements 2022

  • What is a Structured Settlement? What You Need to Know
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  • How Do Structured Settlements Work? How Structured Settlements Work | Structured Settlement Diagram
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in with other settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
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  • Structured Settlement Annuity Companies 2022
    Which life insurance companies issue structured settlement annuities going into 2022? 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.
  • 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.
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    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
    Ways You Can Structure Your Settlement Payments. 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 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 the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. 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.
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  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • 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.
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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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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
  • When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
  • Be aware that financial advisors use of testimonials is prohibited or restricted
  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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