by John Darer® CLU ChFC MSSC CeFT RSP CLTC
Pacific Life Structured Settlements eliminated structured settlement lock in fees for up to 6 months on all cases, effective immediately. That’s Whale-y good news!
Cases that are funded beyond the anticipated lock in date will be able to maintain the same cost provided the benefit dates are moved an equal number of days to the delayed funding. * note funding must occur within 6 months of the lock in
The underwriting concession makes it easier to place structured settlements in a shifting interest rate environment where:
- One or more court approvals, or CMS approval, is/are required and the defendant is hesitant to pre-fund the structured settlement.
- Cases which involve statutory funding delays exist, such as City of New York or the New York State Liquidation Bureau, Pennsylvania CAT Fund etc.
- Cases where one cannot pinpoint the exact funding date on the date of settlement due to conditions precedent to funds being released
Pacific Life includes Pacific Life & Annuity Company, which underwrites structured settlement annuities used in New York settlements, as well as Pacific Life Insurance Company, which underwrites structured settlement annuities in all states, except New York.
Thank you Pacific Life!
Postscript
Learn more about structured settlement rate lock ins.
The Structured Settlement Rate Lock-in | A Critically Important Tool
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