by John Darer® CLU ChFC MSSC RSP CLTC
Plaintiffs and their attorneys may get better deals on structured settlements if the use their own "personal shopper", particularly deals involving liability insurers with related life insurance companies. A structured settlement "personal shopper" can help you find the best deals in the store, even if the insurer through its representatives, is not displaying them in the store front. Your structured settlement "personal shopper" can help you find the best "fit" for your financial needs using the available resources.
A store keeper can set up shop and offer only one brand of lemonade if they want. If you're really thirsty you'll pay $2 for that cup instead of 50c that it costs at the other stand a mile down the road. Another example, if you're really thirsty at the movie theater you will pay pay $4 for that bottle of Aquafina that costs $1 at the pizza parlor. So an insurance company can do what it wants when it comes to offering structured annuities! If you don't shop, through ignorance, impatience, laziness or negligence, why blame the insurance company?
WE CAN HELP!
We've observed some Defendants and Defendant's legal representatives are not doing their part to advise plaintiffs to seek independent financial advice on structured settlements as is required under the New York General Obligations Law 5-1702(e).
Some brokers retained by such companies offer only one life insurance company to plaintiffs, even though the insurance company has an approved list of several high quality life insurance companies in its store. The Executive Life and Executive Life of New York cases highlight the importance of diversification, particularly when dealing with big numbers over long payment durations.
Hire your own structured settlement "personal shopper" today.
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More on New York State General Obligations Law 5-1702
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