For years, one of the recurring problems in the structured‑settlement tertiary market has been linguistic drift — the habit of describing receivables as if they were insurance‑issued annuities. Genex Capital was no exception. Its former Assured Annuity branding created avoidable confusion, particularly when the underlying legal instrument was a Receivables Purchase Agreement, not an annuity contract.
With the launch of the Fixed Rate Runner™, Genex has taken a clearer, more disciplined, and very constructive approach.
🔍📘Clearer Terminology and a Cleaner Value Proposition
The most notable improvement is that Genex now calls the product what it is: payment receivables, not annuities. The “How It Works” section explains that Genex buys fixed‑income, fixed‑term structured settlement payment‑certain insurance obligations at a discount and re‑offers these Payment Receivables to investors at preferred rates.
That is the correct term. That is the correct legal characterization. And it is a welcome departure from the earlier branding.
The site also makes clear that these are insurance company obligations, not life‑contingent annuities, and that the yield comes from the discount at which Genex acquires the receivables — not from derivatives or exotic structures.
📈💵A Straightforward Explanation of the Yield Story
The Fixed Rate Runner™ is positioned as an alternative fixed‑income, fixed‑term, fixed‑rate investment designed to maximize yield while preserving capital. The site highlights:
- Annual yields from 5.25% to 8.00%
- Terms from 5 to 40+ years
- Underlying payors rated A to A++
- Liquidity and right‑of‑survivorship options
These are the details sophisticated investors expect, and the presentation is cleaner and more professional than in the past.
🧭🔧A Very Positive Step Forward
Genex Capital has taken a very positive step by fully retiring its Assured Annuity platform and replacing it with a structure that uses accurate terminology and aligns with regulatory reality. In a tertiary market where many participants still cling to the outdated and inaccurate “SMA” label — even after the 2017 revisions to the NAIC Life & Health Insurance Guaranty Association Model Act (#520) adopted by most states — Genex’s move stands out. It brings clarity to investors, reduces long‑standing confusion, and helps align the tertiary market with the standards and expectations that govern the primary annuity space.
🔎🧊Crystal‑Clear on What It Is — and What It Isn’t
One of the strongest aspects of the Fixed Rate Runner™ presentation is that Genex is crystal clear that this is not an insurance product. The site states plainly that investors are purchasing payment receivables, not annuities, not insurance contracts, and not products backed by guaranty association protection. In a market where some participants still blur that line — sometimes aggressively — this level of clarity is not only welcome but essential. It respects investors, aligns with regulatory reality, and reinforces the distinction between insurance‑issued annuities and the receivables that circulate in the tertiary market.
🏁💡A Competitive Market — and a Strong Concept
The very use of the “Fixed Rate Runner™” name signals something important: this is a competitive market, and firms are constantly looking for ways to differentiate. In that race, Genex has come up with a genuinely good concept — one that pairs accurate terminology with a cleaner, more disciplined presentation of what investors are actually buying.
📣📘A Call for Industry‑Wide Clarity
Genex’s shift should serve as a signal to the rest of the tertiary market: it’s time to abandon the use of “annuity” language when selling receivables. The term has never been accurate, and its continued use — especially after the 2017 NAIC Model Act revisions adopted by most states — only perpetuates confusion. Receivables are not annuities, they do not carry guaranty association protection, and describing them as such misleads consumers and undermines confidence in the primary annuity market. The industry would benefit greatly if more participants followed Genex’s example and adopted terminology that reflects the actual legal and economic nature of the product.
⚖️📝A Balanced Take
This review is not a call to “run out and buy” anything. Receivables are not annuities, they are not risk‑free, and they require proper due diligence, legal review, and suitability analysis.
But credit where it’s due: Genex Capital’s Fixed Rate Runner™ is a materially clearer, more transparent, and more professionally presented offering than its earlier Assured Annuity era. And by embracing accurate terminology and modernizing its platform, Genex has taken a very positive step forward.
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