WhICH INSURANCE COMPANIES ISSUE STRUCTURED SETTLEMENT ANNUITIES?



  • American General Life Insurance Company (AIG)
  • Berkshire Hathaway Life Insurance Company of Nebraska
  • First Berkshire Hathaway Life Insurance Company
  • Liberty Life Assurance Company of Boston
  • Metropolitan Life Insurance Company
  • Metropolitan Tower Life Insurance Company
  • National Indemnity Company (Reinsurance)
  • New York Life Insurance Company
  • Pacific Life and Annuity Company 
  • Pacific Life Insurance Company
  • The Prudential Insurance Company of America
  • United of Omaha Life Insurance Company
  • United States Life Insurance Company in the City of New York (AIG)


For more details about these structured settlement annuity issuers, including the address of their home office please click here


If you already have a structured settlement and you are seeking contact information but do not see the company name on this list then please click here for a list of customer service phone numbers for both current and former structured settlement annuity issuers

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What is A STRUCTURED SETTLEMENT?


Real world explanation: A structured settlement is like a job you can't be fired from. For those that qualify (see below) for a structure, there are plenty of "employers" and plenty of "jobs". Someone who receives a structured settlement has the security of income that is safe, secure and guaranteed that is funded by annuities or periodic payment reinsurance from major insurance companies  (some of whom have been in business since before the Civil War) or a trust with United States Treasury obligations.


To qualify for a structured settlement, you, or the structured settlement payee, must be involved in a claim or lawsuit and be entitled to damages from a third party. Depending on the type of damages you are entitled to as the result of the settlement of the claim or lawsuit, payments may be income  tax free or tax deferred.


Structured settlements are protected by Federal and state laws.  Read more 





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WHAT IS AN INDEXED-LINKED STRUCTURED SETTLEMENT ANNUITY?


An index-linked structured annuity gives the payee the ability to have the amount of his or her payments adjusted annually based on changes in an established index. Since April 17, 2014 there has only been one index-linked structured annuity available,through Pacific Life Insurance Company (Pacific Life and Annuity Company for cases in which the payee is a resident of New York, or the litigation is pending in the state or federal courts in New York. The Pacific Life product takes the form of a rider called the Index-Linked Annuity Payment Adjustment Rider (ILAPA) and payments are adjusted by annual changes in the S&P 500, subject to a 5% cap. If the annual change in the S&P500 is negative the payments remain at the same level until the following year when they are measured again.


An important take away with an index linked structured settlement annuity, is that it is the structured settlement payments that change NOT the structured settlement funding amount.



WHAT IS A "SECONDARY MARKET STRUCTURED SETTLEMENT ANNUITY"?

A ""secondary market structured settlement annuity" is a marketing gimmick used to describe an investment in structured settlement payment rights. A so-called secondary market annuity is not an annuity. Devoid of licensing requirements and enforceable regulation about how such products can be solicited, bring risks to the investor that is not characteristic of a true structured settlement annuity. For example statutory protections may not be available. The inventory may have been acquired second or third hand exposing the investor to transactional risks.

 

Nevertheless, for those who have a clear understanding of  the product and its risks it may be a viable part  of a person's overall financial strategy.

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A structured settlement is not a scam.


(1)The only way you can receive a structured settlement is if you negotiated for one as part of the settlement of your legal case

(2)You are represented by a lawyer

(3)The adversary also has a lawyer

(4) If you are/were a minor, or the settlement involves a wrongful death then there will be a judge reviewing and approving the settlement

(5) Most structured settlements are funded with annuities. Annuities are a regulated insurance product. In order to sell annuities both the life insurance company that issues the structured settlement annuity AND the structured settlement broker or settlement planner must hold a valid insurance license.  You can and should easily verify is someone is licensed by going to the website of your state's insurance department or department of financial services.


The life insurance companies that issue structured settlement annuities and other insurance products:

  • Must hold reserves to meet their obligations and are subject to risk base capital standards which require increased reserves for less conservative investments. 
  • are subject to annual audits in each state that they do business


Unethical trolls who are associated with the structured settlement secondary market  (the people that advertise they can give you " cash now for your structured settlement") unfortunately use consumer complaint websites like Rip Off Report, Pissed Consumer and even their own websites to make up stories and make blatant mischaracterizations and misrepresentations in an effort to promote themselves.Watch John Darer's video " The Structured Settlement Scam Hoax is Exposed by Watchdog



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WHERE CAN YOU LEGALLY GET A STRUCTURED SETTLEMENT ANNUITY?


Structured settlement annuities are insurance products and subject to insurance regulation. The only persons who have the authority to offer a structured settlement annuity are licensed insurance agents or insurance brokers who have been authorized by the life insurance companies or reinsurers that issue structured settlement annuities that fund structured settlement obligations established in the settlement of a claim or lawsuit. obligation.


There is misleading information on the Internet that portrays structured settlement payment rights as "annuities" in a way that could cause consumer or investor confusion.  For example, a company whose focus of advertising is "cash now" is more likely than not unable to offer you a structured settlement annuity, as opposed to an investment in structured settlement payment rights. So don't waste your time. It easy to determine if an agent or broker is licensed. Simply go to the website of your state's insurance department, which is in some states , like New York, is called the Department of Financial Services.

 


IS A STRUCTURED SETTLEMENT A SCAM?


888-325-8640.


CAN  ONLY PART OF YOUR SETTLEMENT be A STRUCTURED SETTLEMENT?

Yes. A structured settlement does not have to be all or nothing. Generally a structured settlement is well suited, on settlements large or small, to provided a core amount of income that is safe, secure and guaranteed.

HELP WITH STRUCTURED SETTLEMENTS

STRUCTURED SETTLEMENTS FAQ


WHAT IS THE DIFFERENCE BETWEEN A STRUCTURED SETTLEMENT AND A RETIREMENT ANNUITY?

A retirement annuity can be deferred or immediate but only one type per annuity contract. A structured settlement can contain multiple types of payment streams custom tailored to your needs.


The tax treatment differs as well. Retirement annuities are interest tax deferred, meaning you must eventually pay income taxes on the interest building up in the contract.  With a structured settlement, if the payments represent damages on account of physical sickness, physical injury, wrongful death survivor's claim, or  worker's compensation payments are income tax-free under current law. The tax exclusion for personal injury has been in effect for almost 100 years, long preceding structured settlements. [ Note that there also tax deferred structured settlements available for employment settlements, attorney fee deferred compensation and other types of taxable damages.


The Immediate annuity or income annuity part of a structured settlement does not have to start within 13 months.