by Structured Settlement Watchdog
I don't blame the anonymous registrant of SellingSS.com for "having a bag over their head", their glossary is so bad. What it is not in the best interest of consumers and highly suspect, in my opinion, is when bogus content produced by or on behalf of the "bag heads" is is "thought to be so good" that it is shared 4,374 times on Facebook, Tweeted 5,166 times, Pinterest 4,277, but remarkably not once on the professional business network Linkedin. Research conducted using ahrefs.com and majesticseo, reveals sellingss(dot) com is promoted by 2,500 non-relevant back links created since late January 2014, primarily from forum spam, several of which are ironically labeled "End of Reality".
Let the "shredding" begin:
1. Annuity
Sellingss.com:
" a pre-determined monetary sum that the holder receives every few months.
Structured Settlement Watchdog:
An annuity is a contract is created when an insured party pays a life insurance company a single premium that will later be distributed back to the insured party over time in a variety of possible payment modes. In a structured settlement context, an annuity is generally a form of "qualified funding asset"[defined in IRC 130(d)] used as part of the structured settlement process, to fund future periodic payment obligations to a plaintiff or payee by a defendant, respondent, the defendant's or respondent's insurer, or a qualified settlement fund, that are part of the consideration for the settlement of a legal dispute. The "holder"of a structured settlement annuity, generally a qualified assignment company, is not the payee. The payee is the "holder"of the right to receive structured settlement payments. Payment modes of a structured settlement annuity may contain immediate and/or deferred elements in multiple payment streams in a single contract. Note the difference.
2. Assed-Backed Security
Sellingss.com:
"Another name for structured settlements".
Structured Settlement Watchdog:
Bollocks bolognaise!
3. Broker
Sellingss.com:
"An intermediary who arranges the flow of money between the holders who are selling their strustured (sic) settlement annuities and the buyers"
Structured Settlement Watchdog:
In the primary market a broker is the licensed insurance individual or entity, regulated in the states he, she or it is licensed in, legally obligated to ongoing professional education and ethical responsibilities, who acts as an intermediary in the sale and placement of regulated insurance products (such as structured settlement annuities) from insurance companies he, she or it is authorized to sell.
In the secondary market a broker is an unlicensed, mostly unregulated intermediary who facilitates the transfer of structured settlement payment rights (NOT structured settlement annuities).
4. Catastrophic Injury Case
Sellingss.com:
Structured Settlement Watchdog:
Chronic is a medical term to describe a long lasting disease. Catastrophic injury means “consequences of an injury that permanently prevent an individual from performing any gainful work.”(42 USCS § 3796b). Unless you are a total klutz or have a run of incredible bad luck you cannot have "chronic personal injuries"
5. Death Benefit
Sellingss.com:
Structured Settlement Watchdog:
The payment made to a beneficiary from an annuity or life insurance policy when the measuring life dies. Also called survivor benefit. In the structured settlement context the annuity owner, or holder of the annuity policy is generally the qualified assignment company. In the absence of an irrevocable designation at the time of settlement, it is generally the Payee who selects the beneficiary with authority conferred in the settlement agreement and release.
6. Defendant
Sellingss.com:
Structured Settlement Watchdog:
A defendant in a civil case IS NOT charged with a crime. A defendant in civil litigation is NOT incarcerated and never executed. In general, a losing defendant in civil litigation only reimburses the plaintiff for losses caused by the defendant's alleged acts. A successful plaintiff must prove liability and damages.
7. Factoring Companies
Sellingss.com:
Structured Settlement Watchdog:
In a structured settlment context, factoring companies purchase structured settlement payment rights. Factoring companies do not buy annuities in the structured settlement context despite the proliferation of intentionally misleading and deceptive advertising that has plagued theh secondary market segment.
8. National Structured Settlement Trade Association
Sellingss.com
"A government resource for individuals and professionals in the structured settlement industry"
Structured Settlement Watchdog:
The National Structured Settlements Trade Association (NSSTA) is not a goverment resource. It is funded by dues collected by its members who are primarily licensed insurance agents and brokers whose business includes the placement of structured settlement annuities and other related settlement planning products as well as product providers.
9. Personal Injury Lawsuit:
Sellingss.com
"A lawsuit in which people seek annuity payments"
Sellingss.com
"Regular annuity payments dispersed according to holder agreement"
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