by John Darer CLU ChFC MSSC CeFT RSP CLTC
Qualified assignments are an integral part of most structured settlements. What is a Qualified Assignment?
Sometimes you will find incaccurate statements about qualified assignments on the Internet such as the following:
“From the plaintiff’s perspective, an assignment to a financially secure insurance company gives them the assurance that future payments will be made as promised. For many plaintiffs, this assignment to the life company alleviates the stress of future contact with the defendant, their insurer, or any party responsible for the injury”.
Looking at the qualified assignment programs of current structured annuity companies at time of updated posting
1. Use NON-insurance special purpose shell company as qualified assignee
The qualified assignees for the structured settlement programs funding of, Pacific LIfe Insurance Company, Pacific Life & Annuity Company, The Prudential Insurance Company of America, American General Life Insurance Company, Athene Life & Annuity Company, United States Life Insurance Company in the City of New York, United of Omaha, Independent Life, American National Insurance Company, Puritan Life, Metropolitan Life Insurance Company, Metropolitan Tower Life Insurance Company, USAA Life Insurance Company
2. Use Life insurance company as qualified assignee
The qualified assignee for stuctured settlements funded with structured settlement annuities issued by New York Life Insurance Company. New York Life Insurance and Annuity Corporation is the only one.
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