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March 04, 2013

Structured Settlement Market Consolidation Continues as John Hancock Out

by John Darer® CLU ChFC CSSC RSP CLTC

Another structured annuity issuer is to leave the market.  I heard the rumor last week and that has been backed up by an email today.  John Hancock Life Insurance Company and John Hancock Life Insurance Company of New York will cease writing structured settlement annuities effective March 8, 2013. 

Is the world coming to an end? Not at all.  Consolidation is normal in business markets. It is business as usual, with the exception of the single claimant QSF market, which will effectively be dead.

John Hancock is a major insurer who has just made a business decision to withdraw from a particular line of business. The company is not going out of business and will honor its commitments to existing structured settlement annuitants.

To our friends employed there who are waiting for the shoe to drop, we wish them well as they make their transition

 

 

Posted at 02:52 PM in Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Chicago Illinois Structured Settlements, CT Structured Settlements, Dallas Fort Worth TX Structured Settlements, Denver Structured Settlemnets, Hartford CT Structured Settlements, Insurance Company News, John Hancock Life Insurance/ John Hancock Life Insurance Co of NY, John Hancock Structured Settlements, Kings County Structured Settlements, Long Island NY Structured Settlements, New Haven CT Structured Settlements, New Jersey Structured Settlements, New York Structured Settlements, Newark NJ Structured Settlements, NYC Structured Settlements, Single Claimant 468B, Single Claimant QSF |

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Guide to Structured Settlements 2024

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    Ways You Can Structure Your Settlement Payments in 2024. 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?
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  • 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.
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  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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