by John Darer CLU ChFC MSSC CeFT RSP CLTC
Structured settlement quotes are not a marketplace.
Structured settlement quotes are normally associated with quotes for structured settlement annuities by licensed insurance agents and brokers who are appointed by structured annuity issuers.
How are structured settlement quotes used today?
- Structured settlement quotes may be used as part of a settlement offer to plaintiffs by defendants or their insurance carriers.
- Plaintiffs in personal physical injury or wrongful death cases may also seek out structured settlement quotes from structured settlement experts who are licensed insurance agents or brokers, who are structured settlement experts, to help secure tax-free stable cash flow for their future.
Examples of legitimate structured settlement quotes
- Structured settlement quotes for future periodic payment obligations that are funded by structured settlement annuities.
- Structured settlement quotes for future periodic payments that are funded by United States Treasury obligations.
- Structured settlement quotes for future periodic payment obligations that are funded by reinsurance contracts or agreements
- Structured settlement quotes for a future periodic payment obligation that is funded by index linked structured settlement annuities
- Structured settlement quotes for a future payment obligation that is funded by a market based structured settlement solution.
With a few exceptions, structured settlement quotes are generated by life insurance company or provider software.
Is a Lump sum that a Structured Settlement Cash Now Company Gives You A Structured Settlement Quote?
No, such companies are quoting a lump sum for selling your payments for pennies on the dollar.
Why Do You See Companies That Buy Structured Settlement Payments for Pennies on the Dollar, Use The Term "Structured Settlement Quotes"?
You would have to ask them, starting with Genex Capital. Generally participants in the structured settlement secondary market can't help themselves but to say or insinuate anything in their marketing whether it's accurate or not.
Genex Capital acquired a website that was called Settlement Quotes in November 2011 and renamed it Structured Settlement Quotes. Despite the name, Genex Capital gives offers to purchase of structured settlement payment rights, which it inaccurately labels annuities and then markets them to investors through a website called Assured Annuity. Based on how the majority of transactions are structured when a lawsuit settles, it is doubtful that Genex Capital, or any similar company, has ever purchased a structured settlement annuity. Despite the obvious potential marketplace confusion that it would create, Genex Capital went forward with the renaming in 2012. A search of the USPTO databased shows no trademark for structured settlement quotes and it seems highly doubtful Genex Capital would receive one if it applied.
The National Association of Insurance Commissioners does not consider factored structured settlement payment streams annuities or insurance products. Insurance companies who buy factored structured settlement payment streams on an institutional level, must not account for them as annuities or insurance products according to Statutory Issue Paper No. 160, published by the NAIC in December 2018 and finalized April 6, 2019.
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