by Structured Settlement Watchdog®
MJ Structured Settlement Annuities, Inc. is a less than 3 year old Coral Springs Florida corporation that markets structured settlement receivables with what is in my opinion a misleading company name.
MJ Structured Settlement Annuities name is misleading to investors because what is being marketed to investors, structured settlements receivables, is not an insurance product under state law
According to the Florida Department of Financial Services, at the time of original publishing, Todd Lesk, the CEO of MJ Structured Settlement Annuities, Inc. was licensed as an insurance agent in Florida but does not show an appointment with Genworth, Liberty Life, MetLife, New York Life, The Hartford or Presidential Life. An MJ Structured Settlement Annuities website page displays the trademarked logos of each of these companies.
I have canvassed all of the life insurance companies in the above group that currently issue a structured settlement annuities. At the time of the publishing of this blog post, Liberty Life came back and said that there was no Todd Lesk appointment to sell structured settlement annuities and and no authority to use the Liberty Mutual logo. Let’s see what the others say.
Yet on the Facebook page for MJ Structured Settlement Annuities, Inc.
“CDs generally offer anywhere from .98% to 2.00% interest. Structured settlement annuities offer upwards of 4.00-8.00% interest (based on interest rates at the time of purchase). Why settle for less when it comes to your finances? Click on this link to see if a structured settlement annuity is right for you”.
An investor in structured settlement receivables IS NOT buying a structured settlement annuity
- There is no transfer of ownership of the annuity; and
- There are questions about whether investors in structured settlement payment rights are entitled to the same statutory protections as those who actually purchase annuities or are receiving structured settlement payments as compensation for damages they have suffered.
- They are marketed by merchants who may not be licensed and/or appointed with the structured settlement annuity issuers whose logos may be used by the promoter.
MJStructuredSettlementAnnuities.Com Wholly Misleading Advertising – Structured Settlements 4Real® Blog May 15, 2012
A yellow page listing for MJ Structured Settlement Annuities lists a street address and suite number identical to Client First Settlement Funding , although there is nothing in the state of Florida filings for MJ that suggests any relation between the companies. See MJ Structured Settlement…ton, FL, 33431 – YP same address as Client First Funding 3-14-2014 Yellow Pages
The recent surge in marketing of structured settlements to individual investors has sparked some questionable antics, which I can’t help but call out/ Some players in the secondary market seem to thrive on drawing all the wrong kinds of attention, providing endless material to critique
A pending bill in Florida legislature seeks to amend the Florida Structured Settleent Protection statutes to cap discount rates and curtail forum shopping in courtrooms such as that of Judge Michelle Morley in Sumter County among others, by limiting the filing of petitions to transfer structured settlement payment rights to the county of residence.