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June 29, 2012

MetLife Victims of Structured Settlement Secondary Market Tactics That Confuse Some Advisers

by John Darer® CLU ChFC CSSC RSP

The Structured Settlement Watchdog®  has barked about merchants of secondary market and tertiary market structured settlement payments rights calling them annuities due to the downright inaccuracy when soliciting investors. Today I was surprised to receive the following email from an investment adviser from Colorado

"Good morning,

Is this MetLife? I am interested in more information about secondary market annuities. I understand MetLife offers this product. Can you please send me a phone number to call to discuss with a sales rep. 

Thank you".

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A MetLife company home office representative from its structured settlement operations,  who I spoke to on June 29, 2012,  stated categorically that  MetLife IS NOT in the business of marketing secondary market structured settlement payment rights.

I've repeatedly pointed out in this structured settlement blog that transferred structured settlement payment rights are not an annuity. Despite this, some merchants of structured settlement payment rights advertise them as such on their websites, in emails and in other solicitation materials.

There is currently no licensing required to broker the sale of them to others and non-existent regulation of the secondary market broker advertising.It's part of the reason that even the financial adviser who sent me the email this morning was confused.

Merchants (in some cases paid mercenaries on behalf of those structured settlements rights merchants) can literally say or do anything, operate through anonymous websites, operate off shore or with a U.S.domestic presence that could only hold a notional amount of mail  (UPS store mailboxes).

The other day I reported about someone who was blatantly mischaracterized as a Harvard educated  "structured settlement legend" in 2010 to solicit the "Average Joe" who doesn't appear to exist except perhaps in the mind of a Tufts educated nutritionist and blogger from Massachusetts

 

Thirsty_dog

Have a great weekend folks. It's hot out there!

 

 

 

Posted at 02:57 PM in False Advertising Re Creating, Buying or Selling Structured Settlements, MetLife Structured Settlements, Misinformation about Structured Settlement Factoring, Misinformation About Structured Settlements, Secondary Market Annuities | Not Annuities | Don't Be Fooled, Secondary Market For Structured Settlement Payment Rights, Secondary Market Structured Settlements, Structured Settlement Derivatives, Structured Settlement Factoring, Structured Settlement Factoring News, Structured Settlement Investments, Structured Settlement Payment Rights, Structured Settlement Transfers, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2023

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    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 .
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  • 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?
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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
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  • Firmwide Qualified Settlement Funds Debunked
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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
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  • Be aware that financial advisors use of testimonials is prohibited or restricted
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