by Structured Settlement Watchdog
A. What AnnuityExpertAdvice.com Claims
"A Structured Settlement is a type of income annuity that is derived and negotiated from the result of a person or company winning a civil case. You should
think in terms of winning a personal injury lawsuit due to a car crash. The defendant pays the negotiated settlement to the plaintiff. The settlement is then distributed in a series of periodic payments over an agreed amount of time rather than a lump sum payment in most cases. However, if the settlement is small enough, the defendant may have an option to pay lump sum settlements".
5 Reasons Why is AnnuityExpertAdvice.com Wrong
- A structured settlement is not a type of income annuity. It is a way to settle a lawsuit.
- A structured settlement may be funded with an annuity, or it may not.
- A structured settlement comes about as the result of a negotiated compromise.
- Their sequencing of the structured settlement transaction is wrong. AnnuityExpertAdvice.com has the cart before the horse.
- The Defendant has the option to pay in a lump sum regardless of the size of the case.
B. What AnnuityExpertAdvice.com Claims
"The structured annuity came about in 1983 after the Periodic Payment Settlement Act of 1983 was established"
2 More Reasons Why AnnuityExpertAdvice.com is Wrong
- An Act is signed into law, not established. PPSA 1982 was signed into law by President Reagan in January 1983.
- Structured settlements were actually created before 1983 as just a teaspoon of research will demonstrate.
C. What AnnuityExpertAdvice.com Claims
"After the settlement money is negotiated, and come to final terms, the court order will request the funds to be placed into a type of income annuity contract called structured annuities. The structured settlement annuity is an irrevocable stream of regular payments from an insurance company that is structured in a way dictated by the court system. Not all annuity settlements are structured in a payment schedule. Sometimes settlement money is paid out in a lump sum within a settlement agreement".
"The settlement agreement is structured upfront with the annuity issuer and fixed for the life of the annuity contract".
More Reasons Why AnnuityExpertAdvice.com is "Worthless and Weak" on Structured Settlements
Parodying the immortal words of Douglas C. Neidermeyer is the only way to describe how wrong this is on so many levels.
- AnnuityExpertAdvice is a fraud for labeling themselves an expert on the subject.
- There is a failure of " AnnuityDunceAdvice" to grasp even a basic command of the subject matter of structured settlements.
- Court Orders are not requests, they are orders. Court order is a direction or official proclamation issued by a court or a judge requiring a person or entity to do or not do something.
- The annuity issuer is not a party to the settlement agreement.
- The court system does not dictate structured settlements. Where the settlement involves payments to a minor, incompetent or a wrongful death case then Court approval of the settlement is required. The plaintiff's lawyer will submit a petition to the court on behalf of his clients fro the judge's review and approval.
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