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).
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.
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
A qualified assignment is part of the process to establish a structured settlement that enables a Defendant, Insurer, or Qualified Settlement Fund, to achieve a complete novation of the future periodic payment claim established by suit or agreement, through a substitution of obligors.
An annuity and a structured settlement walked into a bar, how do you tell them apart? 4structures' John Darer reviews the differences for you right here.
A lifetime structured settlement annuity turns part of your settlement recovery into guaranteed income you can’t outlive that is contractually guaranteed by a regulated life insurance company. A lifetime annuity is sometimes referred to as longevity insurance.
Structured settlement annuities can be very helpful to the budgeting process by providing guaranteed income streams and deferred lump sum payments tailored to specific budget needs and time frames identified in the settlement planning process.
Structured settlement receivables are often deceptfully marketed to investors as annuities. When the originating structured settlement factoring company buys structured settlement payments in a structured settlement factoring transaction, they are buying a receivable not an annuity.
Avoid constructive receipt if a structured settllement or structured attorney fee is to be established. Care must be taken to avoid constructive receipt.
Financial services provider USAA ranks 94th on Fortune 500. USAA Life Insurance Company, which earns the top rating of A++ from AMBest is often super competitive on longer term payment streams.
John Darer reviews Prudential Income Advantage structured settlement annuity, which provides indexed structured settlement annuity option with the potential to grow personal injury settlement funds while offering protection from market declines. 2 IRS Private Letter Rulings!
