by John Darer® CLU ChFC MSSC RSP CLTC
It's shameful that Prosperity Partners, a Lake Park Florida settlement purchaser has chosen to intentionally mislead structured settlement annuitants by stating on its website that " an insurance company typically purchases an annuity with substantially less than your initial settlement".
What Prosperity Partners states could not be any further from the truth about structured settlements, especially so in the states of Florida*, New York, Massachusetts and Minnesota whose structured settlement protection laws have mandatory requirements for the initial disclosure of structured settlement terms that have been on the books for over a decade.
To "butterfly" Prosperity Partner's faux pas thoroughly consider that Prosperity is using its intentional misrepresentation to unsettle structured settlement annuitants into thinking that they have been duped into their structured settlement. Prosperity Partners solution is to get the unsettled annuitant to sell their structured settlement to Prosperity Partners at a discount.
Prosperity Partners is not a newbie, so its statement cannot be dismissed as ignorance. Prosperity Partners has been in operation for a decade and one would expect a firm of such longevity to have a command of the facts.
Prosperity Partners is only the latest example of misinformation about structured settlements spun by members of the under-regulated secondary market.