by John Darer® CLU ChFC MSSC CeFT RSP CLTC
Define structured settlement quote? In this informative podcast New York City area structured settlement expert John Darer® discusses what you need to know about structured settlement quotes
While it seems pretty straightforward, a certain amount of "cognitive dissonance" may result from the search engine optimization efforts of certain members of the secondary market for structured settlement payment rights that (shall we say?) take some "creative liberties.
A classic example of " cognitive dissonance" illustrates the longstanding approach used in advertising by a number of members of the secondary market in an attempt to get annuitants to part with (sell) the long-term financial security provided by their structured annuity. In one of Aesop's fables, a fox sees some high-hanging grapes and wishes to eat them. When the fox is unable to think of a way to reach them, he decides that the grapes are probably not worth eating, with the justification the grapes probably are not ripe or that they are sour (hence the common phrase "sour grapes").
On a parallel, one can observe that some factoring companies seek to create cognitive dissonance by attempting to change the belief systems of structured settlement annuitants using the 'why wait for teensy weensy payments" concept to unsettle annuitants and get them to believe, that their annuity payments are like the Fox's grapes; that they will actually receive a "huge lump sum"; and that the benefit from that " huge lump sum" will offset the "nutritition" of longer term financial security.
To wit, Imperial (" Why should you have to wait for your own money?"); Peachtree (" You shouldn't have to wait for your payments to arrive over time" ; TV mailbox ad waiting for payments "until the tumble weeds come"); Integrity ("If you're tired of waiting on small, monthly payments for 5, 10 or 20 years) 123 Lump Sum ("Why should you wait to live the life of your dreams?")
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