by John Darer CLU ChFC MSSC CeFT RSP CLTC
Structured settlement industry premium production increased for the second year in a row. 2019 was a record setting year for structured settlements, exceeding $6.4B, a massive statement of relevance for the core personal injury settlement planning tool in an era of low interest rates and record setting stock market performance
Structured settlements remain a relevant core personal injury settlement planning tool that enables parties to address the personal needs of plaintiffs with a level of precision. In addition to traditional uses of structured settlements in personal injury, wrongful death and workers compensation settlements, there are many applications in the non qualified structured settlement area such as employment and commercial settlements, structured installment sales, wrongful imprisonment (the latter has tax exclusion but cannot be assigned under IRC 130).
A round of applause goes to my industry colleagues, their employees and to representatives of American General, Berkshire Hathaway, Independent Life, MetLife, New York Life, Pacific Life, The Prudential Insurance Company of America, United of Omaha and USAA Life insurance companies , and our trade associations, with whom I share this success. A further round goes to legal counsel, insurers and adjusters who support structured settlements and take the time to stay current on the many applications of structured settlements and who choose to retain structured settlement experts.
4structures.com LLC recently introduced new advertising that focuses on one of the strengths of structured settlements, " a custom fit for your life marathon".