by Structured Settlement Watchdog
Stan Fitzpatrick, a Rightway Funding vulture, from the Fort Lauderdale company that brokers structured settlement factoring transactions, contacted a New York structured settlement annuitant that I know and left the false impression that Metropolitan Life Insurance Company was going out of business.Nothing could be further from the truth. Rightway Funding's rep was simply a predator making an effort to induce the annuitant to sell his payments for pennies on the dollar. Stan's conduct was utterly outrageous.
Metropolitan Life Insurance Company has been in business since in 1868 and currently holds the following ratings:
- AM Best A+
- Standard & Poors AA-
- Moodys Aa3
- Fitch AA-
When the Rightway Funding vulture was contacted at 954-623-8725 and pressed for detail, Stan fed me a similar line of poo poo stew that he told my New York client. The number was disabled after the post was published.
- Stan, falsely claimed that Metropolitan Life Insurance Company is going out of business. ("maybe you haven't heard it yet" he said to me)
- Stan falsely claimed that MetLife was going out of business and was currently shifting money to Brighthouse Financial.
- Stan did not know that MetLife's spinoff of Brighthouse was in the past tense, in 2017..
- Did not know that Brighthouse is an independent company since the 2017 separation.
- Did not know that year over year annuity sales for Brighthouse increased 36% in Q1 2019
- Did not know that in November 2018, A.M. Best AFFIRMED its Excellent Ratings for Brighthouse with a stable outlook
- Brighthouse, not MetLife was downgraded by Fitch, but the report listed it as stable outlook..
Metropolitan Life Insurance Company was MetLife's primary structured settlement underwriting company. Metropolitan Life Insurance Company still underwrites structured settlement annuities, for example for New York CPLR Article 50A and 50B structured judgment annuities. The primary company is Metropolitan Tower Life Insurance Company (once known as Metropolitan Insurance and Annuity Company). Brighthouse has some run offstructured settlement business, notably old annuities from the 2005 acquisition of Travelers Life and Annuity
Are you a MetLife structured settlement annuitant who has been approached by Stan Fitzpatrick from Rightway Funding with his cup of poo pop stew? If so I'd like to hear from you and listen to your story.