What is a Qualified Assignment Fee?
A qualified assignment fee is an administrative charge by a qualified assignment company for taking on the obligation to make periodic payments from a Defendant or Defendant's insurer as part of the process of setting up a structured settlement. Qualified Assignment Fees generally range from $250 to $750. Hartford LIfe Insurance Company has announced that its assignment company Hartford CEBSCO will be charging no assignment fee for structured settlements payable to plaintiffs. A $250 qualified assignment fee applies to structured attorney fees, which is still very competitive.
The Hartford Life structured settlement program has a qualified assignment company whose assumed periodic payment obligations are backed by two guarantors, Hartford Life Insurance Company (the annuity issuer) and Hartford Life, Inc. The link below leads to a helpful chart that demonstrates the Hartford life qualified assignment program.
Download Hartford Structured Settlement Qualified Assignment Guarantee Overview
The size of a qualified assignment fee, or whether or not a company charges a qualified assignment fee, may or may not matter. A market survey by a structured settlement broker or settlement will help determine if it does. In some cases it means a little extra can go to the injury victim. Some structured annuity issuers have minimum premiums or charge a small case policy fee for premiums less than a certain level. In Hartford's case the small case fee applies for premiums less than $25,000.
Our contact implied that The Hartford is "sharpening its antlers" in preparation to to cut some good structured settlement quotes for annuitants. They will be offering rated ages.
For more information about qualified assignments and the process of setting up structured settlements you may find the educational video to be helpful.
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