by Structured Settlement Watchdog
Greetings from 'the clue store".
Jacob Adler of the Spring Valley NY, the self described "C/O of Annuitycasher(dot) com" has again delivered a master class in why "care of' Adler" is not a reliable source of structured settlement information.
A screen shot captured from Annuitycasher(dot)com on November 20, 2016 , ironically labeled 'Standards" reveals the very substandard effort of Jacob Adler to explain structured settlements with annuity funded payments. Adler's bogus explanation of the structured settlement process by Jacob Adler is comprised of 3 steps that would not be deemed kosher by the IRS.
- Injury victim claims recovery
- Defendant's insurance funds annuity, assigns reliabilities to annuity issuer
- Annuity Issuer buys structured settlement annuity from life insurance company, issues periodic payments to claimant.
Why Jacob Adler's explanation of the structured settlement process is an epic fail
- If the injury victim claims the recovery there can be no structured settlement
- The cart does not come before the horse. Assignment comes before annuity purchase in the majority of structured settlements
- Whether there is a "qualified assignment" or a "non qualified assignment" there is an assignment of an obligation to pay periodic payments not an "assignment of reliabilities", whatever the heck that means.
- Structured settlement annuities are issued by life insurance companies. the annuity issuer is therefore a life insurance company. Adler's explanation is that the annuity issuer buys an annuity from itself. Wrong.
Adler even incorporated a Pinterest pin tag option for this piece of structured settlement 'treif".