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September 13, 2010

Pacific Life Eliminates Structured Settlement Lock In Fees*

by John Darer® CLU ChFC CSSC RSP

Pacific Life and Annuity Company has announced that it is eliminating structured settlement lock in fees on all cases, effective immediately

Cases that are funded beyond the anticipated lock in date will be able to maintain the same cost provided the benefit dates are moved an equal number of days to the delayed funding.  * note funding must occur within 6 months of the lock in

The underwriting concession makes it easier to place structured settlements in a shifting interest rate environment where:

  1. One or more court approvals, or CMS approval, is/are required and the defendant is hesitant to pre-fund the structured settlement.
  2. Cases which involve statutory funding delays exist, such as City of New York or the New York State Liquidation Bureau.
  3. Cases where one cannot pinpoint the exact funding date on the date of settlement due to conditions precedent to funds being released

Pacific Life and Annuity writes structured settlement annuity business is all states, including New York. [ Note that after this post was published Pacific Life Insurance Company became the structured settlement annuity issuing company for cases outside of New York, with Pacific Life and Annuity Company handling the New York structured settlement "beat".]

Thank you Pacific Life and Annuity

Postscript

Learn more about structured settlement rate lock ins.

The Structured Settlement Rate Lock-in | A Critically Important Tool

 

Posted at 07:04 PM in Albany New York Structured Settlements, Boston Structured Settlements, Bowling Green Kentucky Structured Settlements, Bridgeport Structured Settlements, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Cary NC Structured Annuity, Cary Structured Settlements, City of New York As Defendant in Law Suits, New York Annuities, New York City Structured Settlements, New York Settlement Planning, News About Structured Settlements, Pacific Life Structured Settlements, Structured Settlement Industry News, Structured Settlement Information, Structured Settlement Lock In, Structured Settlement Quotes, Structured Settlements, Structured Settlements in California, Structured Settlements New York, Suffolk County Structured Settlements, TX structured settlements, White Plains Structured Settlements, WV Structured Settlements | | Comments (0)

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Guide to Structured Settlements 2024

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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
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    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
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Qualified Settlement Funds

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  • Firmwide Qualified Settlement Funds Debunked
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