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July 18, 2016

Some Claim Adjusters Hurting Insureds With "Birdcage Vision" on Structured Settlements

by John Darer CLU ChFC MSSC RSP CLTC

When you consider that publication after publication speaks of the leading financial concern of Americans over age 40 being outliving their savings, depending on their preference for chicken or fish, perhaps it's time to for certain claims adjusters at certain auto insurers to get their head out of the birdcage  (or the fish bowl)!  This picture below just about sums up certain claims people at certain auto insurers when it comes to structured settlements. Instead of a creative approach that addresses the plaintiff's needs, some limit their thinking about structured settlements to the obvious, minor's cases. 

On another case I recently reported on, the plaintiff, a man in his 20s, wanted a structured settlement and the insurer said no "because it was a policy limits case".  But that auto insurer never even thought

Birdcage fishtank heads
Structured settlements only for kids? Get your head out of your birdcage (or fish bowl)

to offer a structure. Had they done so, perhaps the case might have settled for a bit less.  Instead of the typical nod and a wink about saving something off the policy, how about negotiating a compromise with some real value, using some ingenuity?  I can't help wondering how much policyholder money is wasted by the lack of creativity in some of these cases. 

 

When comparing notes with one of my industry colleagues this morning who used to do work for for a national account,  they said at one time had a national coordinator and provided education to their line claims adjusters.  They further opined that the adjusters are not receiving formal training about how to use structured settlements. What a pity!

Structured settlement consultants work on contingency.  There is no cost to the claim file. So why not call in a Master Structured Settlement Consultant for creative input?  Find a structured settlement expert who is creative and put them on your team. You will be glad you did.

Words of a claimant who needs a structure but arrives at the "Moat of the Uncreative":

In art, the obvious is a sin.
Read more at: http://www.brainyquote.com/quotes/keywords/obvious.html

"So I threw you the obvious to see what occurs behind the eyes of a fallen angel, eyes of a tragedy. Huh well. apparently nothing. You don't see me. you don't see me at all". 

 

 

.

In art, the obvious is a sin.
Read more at: http://www.brainyquote.com/quotes/keywords/obvious.html

Posted at 12:42 PM in Albany New York Structured Settlements, Bowling Green Kentucky Structured Settlements, Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Chicago Illinois Structured Settlements, Detroit Michigan Structured Settlements, Hartford CT Structured Settlements, Lexington KY Structured Settlements, Los Angeles CA Structured Settlements, Maryland Structured Settlements, NC Structured Settlements, New Jersey Structured Settlements, New Orleans Louisiana Structured Settlements, New York Personal Injury, New York Structured Settlements, Newburgh Structured Settlements, News About Structured Settlements, NH structured settlements, NJ Structured Settlements, North Carolina Structured Settlements, NYC Structured Settlements, Oklahoma Structured Settlements, Palm Beach Structured Settlements, Philadelphia PA Structured Settlements, Rhode Island Structured Settlements, Rochester Structured Settlements, Sacramento Structured Settlements, San Francisco Structured Settlements, Santa Monica Structured Settlements, Sarasota Structured Settlements, South Carolina Structured Settlements, St. Louis Structured Settlements, Structured Settlements Florida, Structured Settlements in Florida, Structured Settlements in Georgia, Structured Settlements in Illinois, Structured Settlements in Ithaca New York area, Structured Settlements in Kentucky, Structured Settlements in Louisiana, Structured Settlements in Maryland, Structured Settlements in Miami Florida area, Structured Settlements in Michigan, Structured Settlements in Nassau County, NY, Syracuse Structured Settlements, VA Structured Settlements, Washington Structured Settlements, West Virginia Structured Settlements, White Plains Structured Settlements, WV Structured Settlements |

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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.
  • 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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