Last week the NASP met for their annual meeting and a few individuals have blogged about the event. This author would like to comment on a few points brought up by other authors.
Insurance Companies Purchasing Their Own Product
There are currently two issuers who factor structured settlements- Allstate and Clearscape Funding (Symetra). The problem with these two companies is that they have high discount rates starting at 10- 12%, they take forever to complete a transaction, and it is a conflict of interest to purchase the settlement on the back end and make another profit off of the annuitant.
An annuitant can receive a better rate anywhere.
Reasons an Annuitant Sells the Rights to Their Payments
Over the past few months Settlement Quotes has been keeping track of the reasons our clients have sold the rights to their payments. With the consent of these individuals we will be publishing the list to show how 99% of these individuals had no choice but to sell their payment rights because of their particular financial circumstances.
Due to the circumstances surrounding the recent events of AIG’s financial difficulties the media has spawned a frenzy among policy holders. This author believes annuitants should be cautious about