by John Darer® CLU ChFC CSSC RSP CLTC
The structured settlement market turns positive as annuity rates continue to improve with a slew of cost decreases announced this week. The improving rate environment makes it all the more important to employ a multi step strategy to get the best deal. Decide on the type of payment stream or streams first and then shop the market for daily rates.
Some structured settlement annuity issuers are not always competitive at first glance, yet when push comes to shove they are there or thereabouts for the type of business they have an appetite for. For example, Liberty Life Assurance Company of Boston's latest increase states that their rates may be 4.6% better in some cases.
All this good news means that the old rush to lock in structured settlement plans and rates, may not be in the plaintiff's best interest where there is a long funding horizon. At some point you do need to lock in, but I occasionally see structured settlement brokers locking in rates way too early, sometimes months before papers are ready to be submitted to the Court for approval.