1. An insurance agent I know mentioned that he "received a bizarre phone call from someone on whom he wrote an annuity on in 1987 and he hadn't heard from in 24 years, who said he received a benefit reduction letter". You mean Executive Life of New York ?" I said. And so the conversation began as I brought the caller up to speed on what has happened since Whitney' belted out "Didn't We Almost Have It All", and referred him to ELNY.Org, our posts and those authored by Hindert.
2. Another caller together with a parent who continues to suffer from horrendous injuries sustained in an automobile accident in the early 1980s, have been receiving structured settlement payments from Executive Life of New York annuities. BOTH received benefit reduction letters, one of them 40% covered, the other 50% covered. By the time the caller reached me, he or she had already queried a number of people who he or she stated "could not answer his or her basic questions" and the calls to the contact number on the ELNY site "were met with scripted responses". The potentially good news is that the structures were not assigned to First Executive and that the owner appears to be a solvent insurer.
IMPORTANT NOTICE: While I am happy to speak with any Executive Life of New York annuitant as a compassionate voice from the structured settlement industry and to share my historical research through this medium, I am not a lawyer and cannot provide legal advice to Executive Life of New York annuitants. ELNY annuitants should consult with a lawyer who can advise them of their legal rights and how to protect them under the proposed liquidation of ELNY.