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July 16, 2014

Sell My Annuity LLC Brandjacking | Can Money Buy Your Love?

by Structured Settlement Watchdog®

Sell My Annuity LLC of Boynton Beach, FL offered $250 cash by FedEx  just to get a quote for your annuity or structured settlement with no obligation.  Sell My Annuity can pay people to come to the  "party", but what does that say about its self image? 

The Sell My Annuity website located at sellmyannuity(dot)net misrepresents various insurance companies as structured settlement annuity providers and utilizes those companies trademarked names and/or logos in furtherance of the delivery of the misleading information to American consumers and to investors in structured settlement payment rights.  It is our policy to notify the owners of the trademarks when we see them being utilized in this manner.

The following companies, among others, are falsely represented by Sell My Annuity LLC as structured settlement providers:

  • Northwestern Mutual  (trademarked logo used). Northwestern Mutual products are only available through its captive agents. Steven Mackey, the registrant of Sellmyannuity.net and the registrant for Sell My Annuity LLC with the Florida Secretary of State (see www.sunbiz.org ) is not listed as an advisor or agent on the Northwestern Mutual website.
  • Allianz
  • American Equity
  • American National (trademarked logo used)
  • Americo  (trademarked logo used)
  • Aurora National (which services the run off of old Executive Life Insurance Company (CA) contracts since about 1993, according to a company representative I spoke with this morning and does not write any new business). A visit to the Aurora company website to the Aurora National company website shows a rudimentary Web 1.0 interface bearing many pages with a copyright for the year 2000 and last modified dates at least 12 years old!
  • Protective Life  (trademarked logo used)
  • Reassure
  • Riversource
  • Royal Life
  • Security Mutual (trademarked logo used)

The trademarked logo of current structured annuity issuer Pacific Life is being used by Sell my Annuity LLC

It is my policy to notify the insurers of use of their logo on such sites. 

Then there is the misinformation on the Sell My Annuity LLC  Site

A.   "The structured settlement annuity is offered by the insurance company who insured the party responsible for the injury as a way to compensate the personal injury claim victim without paying a lump sum of cash up-front".   SellMyAnnuity.Net  July 16, 2014  (emphasis added)

This is a common technique used by cash now pushers to unsettle annuitants and give them the false impression that they have been duped.  The fact is that a structured settlement is funded at the time it is created, soif you are structuring $500,000 of  your $1,000,000 settlement then $500,000 is paid up-front for the structured settlement by the Defendant or the Defendant's insurer.

B.   Sell Your Annuity LLC  asserts that "The best way to determine the value of your structured settlement or annuity is to contact a structured settlement purchaser". There's no surprise there is there?

A settlement purchaser is useful only if you need to sell, or perhaps if you need to establish a fair market value for structured settlementpayment rights you previously acquired as an IRA investor and are now seeking to convert to a Roth IRA.  Do you call a real estate broker every week to find out the value of your home unless you are thinking about selling?

If you had simply gone to Peachtree or Imperial Structured Settlements in the last several years, companies known for low hanging fruit grabbing high discount rates , you might get a lower valuation than going to other settlement purchasers, or individual investors. Some people do not have the time nor the resources to shop around, when they should.

The value of a structured settlement is the stable guaranteed income it provides and the tax advantages, particularly on the larger cases.  Having 'a job you can never be fired from', with a steady income is probably of more value to someone who depends on income.  Ideally you live on your income without eroding your assets.

Selling your structured settlement payment rights reduces your income by eroding your asset.

Postscript

In 2017 Sell My Annuity gets pimped by Annuity1234(dot)com. Clearly insurers took some action or Mackey got the woolies, because the trademarked logos do not remain. However, by continuing to misrepresent insurance companies that do not issue structured settlement annuities as structured settlement providers, Steve Mackey's site continues to misrepresent the truth in what is obviously a brand jacking exercise.

 

 

 

 

 

 

Posted at 12:33 PM in Boca Raton Florida Structured Settlements, Boynton Beach Structured Settlements |

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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 Work | Structured 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.
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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 .
  • 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.
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    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.
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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
  • 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.
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