Prudential Structured Settlements "Can-Do"
John Darer • July 17, 2018
Prudential Rated Ages Are Good For 12 Months
Life contingent structured settlement payments are cheaper if you have a rated age. It can also be said that each settlement dollar going to pay for lifetime medical needs goes a longer way with a rated age.
What is a rated age?
A rated age
is an opinion from a life insurance company underwriter that is used to price life contingent structured settlement annuities, or structured settlement annuities where at least part of the payments are life contingent.
Rated ages are useful in pricing out the cost of a life care plan for a plaintiff with catastrophic injuries. In New York, rated ages help give a realistic cost projections when analyzing damages under CPLR Articles 50A or 50B. Rated ages can be helpful in determining the cost of funding the future portion of a Medicare Set Aside arrangement
.
Some structured settlement annuity issuers already extend rated ages for 12 months while others only allow 6 months. The latter requires resubmitting medicals every 6 months. Extending the time frame is a better solution that removes the "squeaky wheel" in one of the moving parts in the structured settlement process.
The Prudential Insurance Company of America, part of Prudential Financial, is one of the oldest life insurers in the United States, established in 1875, in Newark NJ. It is the largest life insurance company in the United States in terms of assets (2021).
In the structured settlement annuity industry, dominated by many of the largest life insurers in the United States, Independent Life Insurance Company (ILIC) achieved significant milestones in 2024. Good news, positives and some concerns discussed in this lattest post.
Prudential and Pacific Life have once again been named among the world's most ethical companies. Prudential received the award for the 11th time., Pacific Life received the award for the 8th time. Prudential and Pacific Life are leading issuers of structured settlement annuities.
John Darer reviews structured settlement annuity market expansion featuring 3 new entrants Athene Life & Annuity, American National (ANICO) and Puritan Life as well as MetLife's development of a best in class
What is a Settlement Agreement and Release? What is the role of a Settlement Agreement and Release in establishing a structured settlement? What is a compromise?
John Darer reviews the primary structured settlement market, secindary market and tertiary structured settlement markets
A structured settlement annuity does not drive the tax consequences of structured settlement annuity payments. It is the type of damages the structured settlement annuity payments represent, as reflected in the relevant settlement documentation executed by the settling parties
Structured settlement beneficiary death claim. An executor cannot change the beneficiary of a structured settlement annuity. StructuredTypically, settlement agreements permit the Payee to name or change a beneficiary, provided such change is in writing and submitted to the Assigmment Company or annuity issuer in writing and in proper form.
Which life insurance companies write structured settlement annuities for personal injury and wrrongful death settlements in Bronx, Brooklyn, Staten Island, Queens, Manhattan, Long Island, Westchester, Erie, Rockland, Albany,Monroe in 2025 through licensed representatives?
Why Structured Settlements? Because Certain Sells® Structured settlements offer predictable income streams, which can be appealing to rein in uncertainty. John Darer reviews some other reasons that structured settlements are increasingly being used to settle cases:
Structured settlements have roots that trace back more than 100 years, from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as the core personal injury settlement planning tool it is today.
