by Structured Settlement Watchdog
Genex Capital, the structured settlement buyer operating out of a mailbox at a UPS store in Dover, Delaware, apparently thinks decade old third party ratings of insurers are useful to consumers. Many of these companies don't even write structured settlement annuities. There are wide swaths of the alphabet missing. Why would Genex Capital, run by a successful guy named Roger Proctor, a guy who has a multi million dollar condo at the Fairmont Pacific Rim and another home on an island, and Boris Drubetsky be so lax as to allow the continued display the useless insurance company information? Has it all "gone to pot" over there?
I continue to marvel at current interest rates juxtaposed against Roger Proctor's decade old wail about interest rates rising in an attempt to get suckers to sell their structured settlement payments to Genex Capital for pennies on the dollar. History has shown that it would have been a financial disaster. Interest rates now stand even lower than they were when Proctor made his wolf call. In June 2009, the 10 year Treasury hit 4%. At time of publishing the 10 Year Treasury is at 1.62% (it has been as low as 1.47% in recent weeks).
If you have a structured settlement that was set up when you were a child there is a really good chance that you are earning more on a tax free basis than you would be in a savings account , CD or United States Treasury. This structured settlement is desirable to investors who are seeking high yields, high yields than can only be achieved if you get short changed. If you have a structured settlement that was set up in 2009 for example and the yield exceeds 4-5% with a company like New York Life, Pacific Life, American General, John Hancock, Berkshire Hathaway, USAA Life, MetLife, don't be a fool and sell.