by John Darer CLU ChFC MSSC CeFT RSP CLTC
Structured Settlement Payments should not be late
For their very important date to be received by you
If your structured settlement payments are sent by mail, the annuity issuer will usually mail to your address on record 5-10 days in advance.
- In most settlement agreements, the structured settlement payee is expressly required to notify the annuity issuer or qualified assignment company of any change of address, as alternative communication methods are neither practical nor cost-effective.
- If your structured settlement was established during childhood and you have since relocated, ensure that the annuity issuer or assignee has your updated mailing address.
Telephone numbers of current and former structured settlement annuity issuers
- If payments are made by direct deposit, which is the preferred and most reliable method of receiving your structured settlement payments, your payments are made directly into your bank account on record on the date payments are due. The funds should be available on the date of deposit, depending on your bank’s polices.
- If you have previously sold a portion of your structured settlement payments and they are being managed under a servicing agreement, you may need to contact the servicing company to request any changes.
- If you have multiple structured settlement annuities, review the paperwork related to your structured settlement transfer carefully. It is possible that payments were sold from one annuity and not the other, so more than one of the above options may apply.