by Structured Settlement Watchdog®
Structured settlement consumers have for years endured a reckless onslaught of inaccurate "content filler" churned out by pay per posters and offshore hires of structured settlement buyers, in order to get at legitimate structured settlement information. But what do you say when plaintiff brokers, or settlement planners who advise plaintiffs just won't let go of inaccuracy. They are unwilling to stop sucking their figurative thumbs, or give up their prized "blankies"?
Seen July 26, 2015 on the website of a member of the structured settlement industry having a copyright date of 2014.
|Is there a guarantee with this option?||Yes. The annuity issuer guarantees payments, according to the terms of the structured settlement agreement.||Yes. The Federal Deposit Insurance Corporation (FDIC) insures CD deposits (up to $100,000). The issuing bank guarantees amounts over $100,000.|
The financial comparison is stated to be provided courtesy of The Hartford even though The Hartford was no longer writing structured settlements as of the copyright date. for more than 2 years
Pursuant to the Economic Stabilization Act of 2008. the FDIC limit on protection for CDs was raised from $100,000 to $250,000 per depositor on October 3, 2008, according to this press release
So to sum up
- At the time The Hartford produced the comparison, in 1999 (16 years ago!), the information WAS correct.
- An Act of Congress signed by President George W. Bush ( that's right Obama is finishing up his second term) meant the laws were changed to temporarily increase the FDIC limits 7 years ago.
- On July 21, 2010, again before the copyright date, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raised the current standard maximum deposit insurance amount to $250,000.
- The Hartford was no longer in the structured settlement business at the time of the copyright claimed by the subject structured settlement broker
- The Hartford structured settlements' comparisons have been a legacy that carries figuratively speaking, the characteristics of a thumb sucking child's blanket.
- The subject structured settlement brokerage firm is a member of NSSTA. Instead of my naming the subject brokerage firm, how about any firm that is making a legacy of The Hartford structured settlements work from more than a decade ago, review their website and, if it contains the error, simply make a correction?