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December 11, 2011

"Will MetLife annuitys (sic) be affected by Executive Life annuity reductions?"

by John Darer CLU ChFC CSSC RSP

As the news of Executive Life of New York benefit reductions hits the street, some have asked whether or not there will be any effect on MetLife?  In short, no. The question was retrieved from a Bing Search on December 10, 2011. Where does this apparent non sequitur come from?

As announced in the New York Times January 22, 1992, the original Executive Life Insurance company of New York "rescue plan called for the Metropolitan Life Insurance Company of New York (sic) to only provide bookkeeping services for Executive Life annuities that were currently making payments and to take over the rest of Executive Life's businesses.

The businesses to be taken over are deferred annuities, whole-life policies, term-life policies and so-called interest-sensitive policies -- known as universal-life policies. Executive Life's contracts for deferred annuities and these three types of policies would be canceled, and the holders would be issued new contracts by Metropolitan Life".

Read the full New York Time article from January 22, 1992

If you are a former Executive Life Insurance Company of New York policyholder or annuity holder and issued a brand new contract by Metropolitan Life Insurance Company, you should not have any concerns.

If you are a Metropolitan Life Insurance Company policyholder or structured settlement annuitant you should not have any concerns.

With more than $450 billion of assets under management, MetLife is the largest insurance group in the United States and one of the largest in the world.

Current ratings

A.M.Best A+

Standard & Poors AA-

Moodys Aa3

Fitch AA- 

Download MetLife_Investments_FactSheet_3Q2011

 

Posted at 01:06 AM in ELNY Liquidation News and Commentary, Executive Life Insurance Company of NY ("ELNY"), MetLife Structured Settlements, Metropolitan Life Insurance Company, Metropolitan 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 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.
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    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 .
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    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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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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