« Structured Settlements 4Real #1 Structured Settlement Website in Jacksonville, Florida | Main | Treasury Funded Structured Settlements: A Tax Question »

May 15, 2012

MJStructuredSettlementAnnuities.Com Wholly Misleading Advertising

by Structured Settlement Watchdog®

A Boca Raton, Florida company markets factored structured settlement payment rights in a wholly misleading way by positioning them as annuities through its company name.

Factored Structured Settlement Payments

  1. Are not annuities
  2. Don't require a license to sell, whereas a true annuity does.
  3. The purchase of structured settlement payment rights is unregulated
  4. In the event of insolvency of any of the underlying annuity issuers that correspond to the structured settlement payment rights purchased, the likelihood of statutory protections being afforded to investors in such payment rights is slim to none. [see Executive Life Insurance Company of New York liquidation- ENY Liquidation]

MJ Structured Settlement Annuities does not mention structured settlement payment servicing, a common practice where a seller of structured settlement payment rights does not sell his or her entire stream of payments. There are issues associated with servicing.

The very name MJ Structured Settlement Annuities appears to be a misnomer. The company buys and sells payment rights, not structured settlement annuities, which are owned (and after the structured settlement factoring transaction remain owned) by the qualified assignment company.

I suppose a MD with a G.I. speciality could open a "Gastro Pub", but really, is it acceptable for Gary "G.I." Joe M.D. to advertise his practice as "Up Yours Plumbing, PLC "?

But such initial interest confusion is typical of merchants in that segment of the industry. For another example of a company name that is a misnomer,  look no further than Structured Settlement Quotes, Inc., a company which appears to have acquired the structured settlement payment rights auction website (URL: www.structuredsettlement-quotes.com) , blogs, content and toll-free number 888-665-1257 of Settlement Quotes, LLC. The current Better Business Bureau record for the company states its contact person as follows: "Roger Proctor (CEO Genex). Download Structured Settlement Quotes BBB 5-20-2012

The terms "structured settlement","structured settlement paymemnt rights" and "structured settlement factoring transaction" are defined in the Internal Revenue Code at IRC 5891(c)(1),  IRC 5891 (c)(2) and IRC 5891(c)(3) respectively. If a company is a merchant of cash for structured settlement payment rights it is not giving structured settlement quotes.

The lack of regulation enables such merchants, and others like them, to market themselves using names and/or terms that are misleading. Seems to me that a company should not be permitted to call itself something that it isn't and does not sell.

Back to MJSSA, MJ Structured Settlement Annuities has a web page that is titled "insurance carrier ratings", with links to the structured settlement or other financial web pages of certain life insurance companies such as new York Life, American General, Liberty LIfe and met Life. We've checked with several of these companies who denied that MJ Structured Settlement Annuities is appointed with them to sell structured annuities.

The CEO of the company holds a valid insurance license in Florida, despite advertising structured settlement annuities in New York

  • Long Island, NY - MJ Structured Settlement Annuities

    www.mjstructuredsettlementannuities.com/Secondary-Market-Structured-Long-Island...

    “The process was effortless and smooth. I received my annuity package within days. Todd made everything easy and understandable. We successfully rolled my ...   (Source 5/15/2012 search for Long Island Structured Settlements on AOL.com)

,the MJ  Structured Settlement Annuities CEOs' New York license shows as being expired since 2010.

For the convenience of those insurers who feel that there has been an unauthorized use of their brand, please find hosting and whois information.

Download MJStructuredSettlementAnnuities    The phone number listed in the domain registration returns an error message.

ISP Information for DMCA

Download 208.112.46.133 IP Address WHOIS _ DomainTools MJStructuredSettlement Annuities

 

Posted at 03:10 PM in Boca Raton Florida Structured Settlements, Factoring Company Bad Business Practices, Long Island NY Structured Settlements, Structured Settlement Factoring, Structured Settlement Payment Rights, Structured Settlement Watchdog® |

Twitter | Pinterest | Facebook

Comments

The comments to this entry are closed.

My Photo

Guide to Structured Settlements 2022

  • What is a Structured Settlement? What You Need to Know
    What you need to know about structured settlements. General explanation of structured settlements, including the stable guaranteed income and favorable tax benefits that give structured settlements their "juice" and a helpful introductory video featuring 2022 A.M. Best Client Recommended structured settlement expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
  • How Do Structured Settlements Work? How Structured Settlements Worktured 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
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • 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.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    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.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click for a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Transamerica, AEGON, GE Capital, Liberty, CNA) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last update January 13, 2022.
  • 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.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon

Contact Structured Settlement Expert John Darer®

About The Structured Settlement Blog

  • STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 and for over 16 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary . John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

New York City Structured Settlements

Connecticut Structured Settlements

Structured Settlements 4Real Reader Comments

  • "You have a wonderful blog"
    Partner in Philadelphia law firm August 30, 2020
  • "Impressive Blog" -Counsel to Am Law 200 ranked International Law Firm July 22, 2020
  • "Thank you so much for giving us your time and leading us in the right path , Thank you, you are a God send , God bless you in all your works" -K April 11, 2017
  • "Once again, I can't tell you how appreciative I am for your help. In today's day and age, it is rare that you actually find people who are willing to go the extra mile..." -TC May 5, 2015
  • "I wanted to send you this email to say Happy New Year to you and your family. May God continue to bless you. I am grateful that I had the opportunity to meet you on the phone. I truly thank you for introducing me and my son, (redacted) to (lawyer). It is people like you that God put in the path of my son situation. Thanks a million times! {original on file] 1-2-2015
  • "John Darer has been nothing but honest,helpful,informative with options, & his "time" was NEVER an issue!"-Andrew S 8/18/2012
  • " I wish there were more like you" JG 9-15-2014
  • In my opinion, John Darer is an excellent consumer advocate in the insurance industry. When I had no one else to turn to after running up against the stone walls of these giant insurance company, John Darer used hours of his own time to investigate my situation. Not only is this an invaluable service to me the consumer but it is also of great value to the insurance industry by providing them consumer feed-back. This allows the insurance companies to correct their faults and move toward greater transparency which improves the overall public image of the insurance industry as a whole" JW 9/4/2014
  • John, Keep fighting the fight. -NASP member 12-4-2013
  • John...Thank you for your professional advice-Brandon 11-13-2013
  • "...Thanks to Mr. Darer's blog and personal pointers I was able to obtain a fair price for the sale of client structured settlement. Therefore, if one has no choice, but to sell their settlement educate yourself first before selling start by reading John's blog" Mr P. 11/17/2012
  • "I always appreciate when he (John Darer) keeps us informed on regs and rules. No one does it better"- structured settlement industry colleague and reader RY 7/26/2012
  • "Amen - and continued thanks for your vigilance, John"- RL 8/18/2011
  • "Thanks for writing these great blogs on your site John! As an individual investor I have learned so much about the secondary market (for annuities, structured settlements, lottery payments, etc.) from your blogs and video series!!!" (6/5/2011)
  • I have found the intelligent and forthright information on your site a godsend. So much so I have tried in a small way to pass on my findings to others. Please keep up the good work and enhance your well deserved reputation as the authority on this subject- Mike 4/29/2011
  • John - I can't thank you enough for bringing this to my attention. In my wildest dreams... PJ-May 12, 2011
  • John, I love reading your blog! Not only have I found very useful information there, but the comedy is much appreciated! Thanks for talking about "the big pink elephant in the living room" that everyone else ignores! Thank you again for your help via phone and blog! I really needed to hear what you had to say today! BM 11/23/2010
  • John—this (video published 11/2010) is a well done piece. I like the way you always stick to the facts-AM
  • What a wonderful blog you have! I have completely enjoyed reading some of your posts (4/16/2010)
  • Thank you so very much for discussing my concerns about Symetra, my annuity company. I am amazed that PI attorneys as well as a settlement broker in San Diego, could not answer the simplest questions I had regarding the Safeco/Symetra issue. Your blog/web site is most interesting and informative, and I am grateful you have take on the "watchdog" role! Thank you so much again (3/25/10)
  • "Keep up the good work exposing abuses in our industry - our future depends on clients being properly advised."-CD
  • Just checked out your blog and loved it. Keep up the good and balanced work-DL
  • "...we have never met but I thoroughly enjoy your web site and blog - excellent material…-PB
  • "I enjoy your website and its content. Informative and well written"-JC
  • I heard a radio ad for the Peachtree Settlement Fund as I was driving into work this morning. (San Francisco Bay area.) I decided to check it out on the Internet and came upon your blog. Thank you very much. I do not have a “structured” settlement,
  • "All the others that I had emailed & have seen on the net were "cash now types" & have no concern of me & just are looking for my $$$. When I came across your site & blog I realized that u are an upstanding guy & are not like others. That's why I emailed"
  • This was Great. Right On Point-TS
  • "Other Than John Darer No One Seems To Be Doing Anything"-J
  • Thanks for your help and also for the good work you do on behalf of our industry-L
  • "Thank you for being the inspiration that you are and for being a strong advocate for integrity in our business"-KL
  • "I Commend You On Your Effort To Make a Difference!" -R
  • "He is a fabulous writer who has a great passion for the structured settlement industry. I commend him on the passion he invokes when he writes on his blog listed above. That type of commitment and passion is hard to find and is rare in this world" -AC

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.
  • Number of States That Prohibit Payment of QSF expenses by licensed agents and brokers
    5 Survey not yet complete.

Comments and Trackback Policy

  • Comments and Trackback Policy
    Comments to this blog are encouraged, welcome and add spice to the interactive nature of blogs. However, the unscrupulous practice by some to deliver comment spam, to connect all manner of unrelated products to structured settlements, detracts from user experience, is NOT tolerated by this author and thus necessitates the practice of comment screening.

Secondary Market Blawgs or Websites

Special Needs Blawgs and Resources

Subscribe to this blog's feed

Pages

Blog Search Engines and Directories

Helpful Structured Settlement Information is Here!

  • Learn more about structured settlements by reading structured settlement expert John Darer's blog
    Researching Structured Settlements? Check (1) in Archived Blog Posts (above left); (2) use the Google search box (below); (3) visit the 4structures® website at https://www.4structures.com, (4) 4structures® YouTube Channel by clicking the above link, or (5) call settlement expert John Darer® at 888-325-8640, toll-free in the USA or 646-849-1588 in New York City
  • Subscribe to a Specific Category Feed for a subject you like or the Whole Blog
    SUBSCRIBE to the dedicated RSS feed for the Structured.Settlements 4Real® blog category that interests you. For example, if you are just interested in reading about "New York Structured Settlements" you can follow that feed. Just click on the category title tag at the bottom of a post you like and then the little RSS symbol on the resulting page.You can also subscribe to the whole blog
  • The John Darer® authored Structured Settlements 4Real® blog is the most prolific structured settlement blogger with over 5,200 blog posts, and counting!

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.

Recent Posts

Tax Deferral Resources | Defer Taxable Settlement

Other relevant websites and blogs of interest

Subscribe in Bloglines