Independent Life Insurance Company 2024 Growth Report

John Darer • March 16, 2025

 7 Year Old Gets Good Marks |Room for Improvement

In the structured settlement annuity (SSA) industry, dominated by many of the largest life insurers in the United States, Independent Life Insurance Company (ILIC) achieved significant milestones in 2024.


Not only did the "pre-pubescent" life insurance company, that only issues structured settlement annuities, surpass $1 billion dollars in funded premium since it began to write business in 2018, it also made national headlines in the insurance press as one of the Fastest-Growing Small to Medium Annuity Issuers, Q3 2024, in the United States. Independent Life realized many accomplishments across key metrics, reinforcing its position as a continually emerging force in the SSA industry. 


Independent Life insurance Company Key 2024 Financial Milestones: 

  • Annual Production grew from $312.7M in 2023 to $451.7M in 2024, a 44.5% increase.
  • Total Production Since Inception climbed from $909.1M in 2023 to $1.36B in 2024, a 49.7% increase.
  • Market Share Expansion: ILIC's share of the SSA industry rose from 3.60% to 4.73%.
  • Policies Issued expanded from 721 in 2023 to 905 in 2024, exhibiting strong demand and customer trust.
  • Court Approvals (Since Inception) reached 1,755, up from 1,365, reinforcing ILIC's track record of success.
  • Assignors (Since Inception) rose from 465 to 545, reflecting nationwide expansion.


Source: Independent Life


The term "Assignors" in the Independent Life press release is believed to refer to Defendants, Respondents or Insurers who agreed to assign their obligation to pay future periodic payments to Independent's qualified assignment company. What is a Qualified Assignment?    


Pluses


  • Seasoned industry professionals, including a co-author of the seminal industry textbook, Structured Settlements and Periodic Payment Judgments.
  • Independent Life is the only structured settlement annuity issuer that only issues structured settlement annuities.
  • Independent Life Insurance Company advertises a Payee Protection Policy to help protect its annuitants from abusive factoring. I have asked Independent Life to provide an ongoing status report of activity in this area as it was promised when the company started writing structured settlement annuity business.
  • Independent Life currently has the industry's only uncapped index linked structured settlement annuity which is marketed under the name I-Structure.
  • According to Independent Life "The Company's focus for 2025 will be strongly linked to ongoing new business growth, introduction of one or more market-based structured settlement annuity solutions"    Very strong competition is on the horizon with Pacific Life, although the competing product is not coming onto the market until later this year at the earliest.
  • Independent Life offers its appointed brokers a unique in industry 2%-4%-6% duration based compensation schedule, born when short term interest rates were much lower.  See Duration Based Structured Settlement Compensation Model
  • Independent Life issues policies lightening fast.


Concerns and Room for Improvement


  • Questions over possible concentration of sources of inbound premium
  • Concerns of how HanoverRe, is represented by certain appointed brokers in sales presentations.  Independent Life has SRO Tier 1 ratings, but unlike its competition, it is not rated by A. M. Best, Moodys, Standard & Poors or Fitch.  Independent Life has been clear about what the reinsurance is all about. See my April 24, 2024 updated of my April 22, 2021 post  Independent Life's Reinsurance with Hannover Life Re | What It Is and Isn't.. But one wonders to what extent it monitors and/or oversees how it is being portayed by certain brokers.
  • It will be interesting to see how Independent copes with Athene, ANICO and purportedly as many as two other industry newcomers in 2025, all of whom have A.M. Best ratings and others.
  • Weiss Rating.  There has been some improvement but needs more.








most infomative structured settlement websites
By John Darer August 26, 2025
The 4structures.com website is one of the most comprehensive structured settlement resources, particularly for those who want detailed, expert-level information, according to Google AI
most informative
By John Darer August 22, 2025
Based on Grok's review of prominent sites as of August 2025, 4structures.com (including its associated blog at structuredsettlements.typepad.com) stands out as the most comprehensive. Run by structured settlement expert John Darer, it offers detailed guides, and specialized insights
fountain
By John Darer August 17, 2025
Retained asset accounts for life insurance beneficaries, are temporary accounts that earn interest, give you time to breathe and give you time to figure it out.. Retained asset accounts are pay nterest from the date of death to date of settlement of the claim as a general practice,
knuckles
By John Darer August 16, 2025
How to avoid a "Knuckles Sandwich" when entering into settlement of claims or lawsuits involving taxable damages, or elements of taxable damages. What is the intent of the Payor? What happens if the intent of Payor is not clearly set forth in the settlement agreement?
structured  settlements
By John Darer August 15, 2025
Structured settlement annuity issuers have stood the test of time, which is crucial if you're depending on them to pay you stable income for a long time or the rest of your life or pay your beneficiaries . For Structured settlement annuities . Call John Darer at 888-325-8640
New Y
By John Darer August 14, 2025
While rising yields have narrowed the gap for defendants in New York CPLR 50A and 50B projections, plaintiffs can still " fly inverted" and get plenty of "lift" when negotiating settlements by using savvy settlement experts
baseball caps of many colors
By John Darer July 29, 2025
The cap rate on index linked structured settlement annuities is a limit set by the insurance company on the maximum interest rate that can be credited to the annuity based on the performance of the underlying index that also helps provide the downside prtection..
longevity road
By John Darer July 28, 2025
Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can inlcude one or more customized payment streams and types.
USAA structured settlements
By John Darer July 16, 2025
USAA Life Insurance Company, an A++ rated insurance company, issues structured settlement annuities with 1%, 2% and 3% COLAs. USAA Life structured settlements are exceptionally compatitive on lifetime benefit payments with long duration certain periods for ages under 35.
MetLife Structured Installment Sales Now Available in New York
By John Darer July 8, 2025
Owners of highly appreciated NY businesses or NY real estate may benefit from a structured installment sale tax deferral program as an alternative to a 1031 exchange. MetLife's structured installment sale program is now available in NY and in all 50 states. Call 888-325-8640 for more info
More Posts