Based on the content of its website, a member of the structured settlement industry has chosen to celebrate the "oxy moron" in all of us.
1. "Evaluation and assistance in life care planning Knowing exactly what the future may hold for an individual... "
Comment: If you know "exactly", then why do you need an escape valve for your marketing statement?
- Jumbo Shrimp
- Precise Average
- Same Difference
- Genuine Fake
- All Alone
- or, a Happy Crab?
2. "This is the only time in a person’s life where they can elect to take a portion of payments set out over a length of time, with tax free benefits that were specifically created by the government to help injured parties ...With a combination of evaluation tools, we can assist in assessing future medical needs ranging from medicine, wheel chairs, assisted living care, in home nursing, and other future costs, and plan directly for them, all while dealing with inflation and preparing for unknown costs...
- While a structured settlement has unique tax benefits for those that qualify, you CAN buy a non qualified annuity, or a bond at any time, which will "set out payments over a period of time". A municipal bond may have tax exempt payments, but it may carry more market risk than a structured settlement
- Again, if you REALLY know "exactly what the future may hold" then why would you need to "prepare for unknown costs"?
- If such a provision is elected, structured settlements provide fixed percentage increases not cost of living adjustments.