Category: Annuity FAQ
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A structured settlement lock-in (or lock in) means that the structured settlement annuity issuer will guarantee the cost of a structured settlement, including the specific payment stream in exchange for the “quid pro quo” of a commitment to accept or purchase.
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A structured settlement annuity is a type of annuity used as a qualified funding asset to fund periodic payments in consideration for a release in the settlement of lawsuits. A structured settlement annuity is issued by a life insurance company and can only legally be placed by licensed agents/brokers
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JG Wentworth must be buying something if people have been scoring all that “cash now”. What the heck is it? Think “Receivables Purchase Agreement” not ” Buying an Annuity”. Raising cash from your structured settlement means you are selling receivables or structured settlement payment rights.
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The post critiques the marketing tactics surrounding Bobby Bonilla Day, questioning whether Bonilla’s contract constitutes an annuity or unfunded deferred compensation. It highlights the insensitivity of linking Bonilla’s deal to Ponzi scheme victims and emphasizes the need to reconsider the narrative surrounding Bonilla’s financial arrangement.
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People with structured settlements don’t actually own the annuities funding them; these annuities are typically owned by qualified assignment companies. However, individuals with structured settlements do have the option to sell their structured settlement payment rights if a judge approves..
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Annuity Expert Advice purports to provide annuity expert advice. Unfortunately for consumers, shawn Plummer’s website continues to be laden with inaccuracies about structured settlements and cannot be relied upon to provide annuty expert advice on the subject in the state it was at time of publication.
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A 1035 Exchange is not permitted into or out of an SMA. The term Secondary Market Annuity is a misleading label, often used by sellers of structured settlement payment rights as a marketing tactic to attract investors in acquired structured settlement receivables. It is not an annuity.
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While some of the incorrect statements by some settlement planners may seem plausible, it is the nature of damages that the structured settlement payments represent that is a critical factor, not the structured settlement annuity contract itself. John Darer revews the details here,
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An annuity is not a structured settlement. For that matter a structured settlement is not an annuity. A structured settlement can be funded with an annuity. Taking a payment plan for casino winnings is not a structured settlement. What Annuity.org says is nonsense.
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Structured settlement receivables are NOT annuities and NOT eligible for a 1035 exchange. Holders of retirement annuities may be in for a nasty surprise if they liquidate tax deferred annuities to buy “secondary market annuities”.. It could mean hundreds of thousands in taxes/penalties.. Yuck!