by John Darer CLU ChFC MSSC CeFT RSP CLTC
A video produced by a settlement planner circulating on Facebook and other social media, claims that annuity based attorney fee deferral programs require the money to go offshore. The settlement planner's claim is simply inaccurate.
The following insurance companies will fund structured attorney fees with domestic qualified assignment companies with no need to go offshore.
- American General Life Insurance Company (Q and NQ)
- Berkshire Hathaway Life Insurance Company of Nebraska (Q)
- Independent Life Insurance Company (Q) [offshore assignment required if not qualified assignment]
- Metropolitan Tower Life Insurance Company (Q and NQ)
- National Indemnity Company ( Reinsurance Q and NQ cases)
- New York Life Insurance Company (Q)
- Pacific Life Insurance Company (Q)
- Pacific Life & Annuity Company (Q)
- The Prudential Insurance Company of America (Q)
- United States Life Insurance Company in the City of New York (Q and NQ)
- USAA Life Insurance Company (Q)
Q= attorney fees on cases involving personal physical injury, wrongful death, or workers comp)
NQ=attorney fees on case that do not involve physical injury, wrongful death, or workers comp, or fees on certain portions of qualified cases where the
With low interest rates, some attorneys having suitable risk tolerance, have been responsive to market based attorney fee deferral programs to help build their wealth. There are domestic programs such as Jurisprudent and OptCapital, which are similar to deferred compensation programs you might see at a Fortune 500 companies for key executives.
There are other established programs that do involve Barbados or Ireland assignments.
For the in-between there is an index linked annuity payment adjustment available through Pacific Life that is established by way of a qualified assignment, that affords some upside with downside protection.
Different horses for different courses. For a discussion of your attorney fee deferral options please call 888-325-8640.