by Structured Settlement Watchdog®
Annuity.ORG continues to do its "con job" on American structured settlement annuitants while shilling for a NASP member structured settlement factoring company.
With a prime key word domain, the Orlando owner of Annuity.ORG could use their platform to provide accurate information about structured settlements Instead the Orlando based company intentionally advances inaccurate information about structured settlements at the expense of consumers. I say intentionally because I have been writing about and substantiating their inaccurate content for 2 years and I written to and spoken with representatives of the NASP member in an effort to get them to post correct inaccuracies to no avail. They just don't care and thus you should not rely on their information.
Components of the Annuity.ORG "con job" on American structured settlement annuitants
Listed as cons on their website, with our responsive comments...
- On one side of its mouth Annuity.ORG says "Funds are not immediately accessible in case of an emergency, and recipient cannot invest the lump-sum payout in other investments that carry higher rates of return", while on the other side of its mouth Annuity.ORG says "A structured settlement often yields, in total, more than a lump-sum payout would because of the interest your annuity may earn over time".
- "Tapping into your structured settlement without selling payments will cost you money. You will pay surrender charges and IRS penalties if you withdraw funds before age 59½".
- First of all, that is a clear misdirection from the onerous costs of selling payments.
- Second, the IRS penalties and surrender charges apply to withdrawal from deferred retirement annuities and those restrictions are in place to encourage people to save and maintain funds for their retirement.
- Third, if we were talking about retirement annuities one should compare the cost of surrender or withdrawal against selling. IRS penalties on under age 59.5 retirement distributions from retirement annuities (or retirement accounts for that matter) can be mitigated by taking the payments over time.
- "Some parts of a settlement, such as attorney’s fees and punitive damages can be taxed".
- Why would this be a concern for the "structured settlement owners" for whom Annuity.ORG claims to provide guidance? Setting that aside, attorney fees and other taxable damages can be structured using non qualified structured settlements.
- Note that the structured settlement annuitants or payees that Annuity.ORG solicits are not owners of structured settlement annuities. Structured settlement annuities are generally owned by a qualified assignment company, although a few may be owned by the defendant or defendant's insurer.
- "Not all states require insurance companies to disclose their costs to establish a structured settlement or lump-sum annuity. Without this information, a recipient could lose a significant amount of money from their settlement through administrative fees".
- Insurance companies must file their products with each state insurance department (or Department of Financial Services). Included in those filings are commissions.
Don't be suckered by the Annuity.ORG "Cons" if you want information about Annuities or Structured Settlements
Annuity.ORG is not the premier informational resource on the Internet about annuities and structured settlements. It isn't by a long shot. The rot starts with the lazy writers employed by Annuity.org and the inaccuracies sanctioned by Raymond Gene Apelado, the managing member of Annuity.ORG LLC ( and CEO of Launch That), and the NASP member factoring company which benefits from the leads, whose phone number is on the Annuity.ORG site.