by Structured Settlement Watchdog
Sell My Annuity (Annuity1234), a DBA for a member of the National Association of Settlement Purchasers (NASP) often comes up in the paid ads section on Google searches. The lead generation website can best be described as Social Media Road Kill because it fails to get the fundamentals of structured
Three False Statements of Fact Made on Sell My Annuity (annuity1234.com)
- A structured settlement is a type of annuity arranged with an insurance company. FALSE
- Structured settlements are typically issued to individuals who have suffered harm as a result of a personal injury. FALSE
- In cases where the victim is owed money from another party as a result of a personal injury, the federal government, in some cases, encourages these victims and their families to utilize structured settlements issued by the insurance company who insured the party at fault. FALSE
Rebutting Three False Statements of Fact made on Sell My Annuity (Annuity1234)
- A structured settlement is a form of settlement.
- A structured settlement may be funded by a structured settlement annuity
- A structured settlement is not "issued to individuals" or anyone else
- Structured settlements are a compromise. Future periodic payments from a structured settlement represent a future periodic payment obligation as compensation for damages as delineated in the settlement agreement and release, qualified assignment and (if applicable) court order approving the settlement.
- Structured settlements are not issued by the insurance company who insured the party at fault, because (1) structured settlements are not issued; (2) the insurer "who insured the party at fault" because structured settlements are not issued and second , because the insurer who insured the party at fault would likely be a property and casualty company as opposed to a life insurance company. Life insurance companies issue annuities, w which are the most common qualified funding asset used to fund structured settlements.
- While state and federal tax law favors structured settlements and has done so for more than 35 years, the federal government is not involved in your settlement unless you are a plaintiff in a legal case against the government, or one of its agencies.
"This ain't a fantastic voyage
But I'm still on a mission to see if I can
Get your attention
Now I wants to drops some information
Just a little additive to your education" -Coolio (1,2,3,4), The Clean Version
Members of the National Association of Settlement Purchasers, whose members run a business with no regulation of sales practices, often do a poor job of educating consumers about structured settlements by publishing wildly inaccurate, ignorant and sometimes reckless misinformation. What's their problem? Who is approving the publication of the material.