by John Darer® CLU ChFC CSSC RSP CLTC
What will it take for the structured settlement industry to produce $6 billion in annual annuity premium? Not much, if you consider the following immutable facts:
Based on a recent breakdown of structured settlement industry annuity production, annuity production increased $115,881,836, representing a 2% increase. This represents an increase of only one case year over year at the average industry premium per case.
The difference between an target of $6 billion and 2014 production of $5,250,262,691 is only $749,737,309.
Assuming 600 industry producers , this means $1,249,562.18 extra annual premium per producer or 6-7 more cases at the average industry case size of $197,586. Who wants to make another $45,000-$50,000?
We also have one of our brethren to thank for helping "skew the 2015 averages" with his recent $41MM case.
An industry colleague has complimented me on being a cheerleader for structured settlements, so here I am donning the complete regalia. Let's Do it!
How 'bout some soulful inspiration? "Let's Do It, Again!" brothers and sisters!