As licensed insurance agents or brokers, all structured settlement consultants receive questions from plaintiffs or their attorneys on the above subject. While the initial response may seem awkward, please understand that this is just a sensitivity to the state insurance laws which may not permit advertising (or even discussion) of such protection in connection with sale or placement of insurance products, including structured settlement annuities. While it's somewhat unfair because bankers can discuss FDIC Insurance, the sensible premise behind the laws is good public policy. Insurance regulators do not want licensed agents, brokers or insurance salespeople selling insurance products from inferior companies and encouraging customers to throw caution into the wind.
The express purpose of this web page is to help consumers shorten their own independent research by deflecting such questions to the relevant State Insurance Department. Simply call the State Insurance Department in your state and ask them questions that licensed insurance agents tell you they not permitted to answer, or simply do not have the answer. Links to the home pages of all of the 50 state insurance departments in the United States can be found by scrolling down below. Click
here
for an excellent paper "NOLHGA, the Life and Health Insurance Guaranty System, and the Financial Crisis of 2008–2009", by Peter Gallanis, then President of NOLHGA. The Insurance Retirement Institute also provides an excellent question and answer piece about
how regulatory efforts ensure maximum protection for structured settlement annuitants, or other annuity policyholders.
Such investments are not annuities. Such investments may not be recognized as annuities under state insurance law or by the National Association of Insurance Commissioners (see Statutory Issue paper No. 160, finalized April 6, 2019), and you may not be covered in the event of carrier insolvency. In states that have adopted the Life & Health Guaranty Association Model Act (#520), contained in the 2017 revisions, Sections 3(A)(5)(c) and 3(B)(2)(n), guaranty associations do NOT provide coverage for (A) persons who acquire the rights to payments from a structured settlement annuity through a factoring transaction (as defined in 26 U.S.C. 5891(c)(3)(A)) and (B) benefits to which a payee (or beneficiary) has transferred his rights in a factoring transaction (as defined in 26 U.S.C. 5891(c)(3)(A)). It's crucial to be aware that exclusion provision in the Model Act is retroactive, so you're exposed even if you acquired the rights to someone else's structured settlement payments prior to your state's adoption of the Model Act. Please see the video below for more detail and commentary.
Last updated March 11, 2024
State (click on the state to reach the State Insurance Web Site) |
Insurance Department Phone Numbers |
Alabama | (334) 269-3550 |
(907) 269-7900 | |
(602) 364-3100 | |
(501) 371-2600 | |
(213) 897-8921 | |
(303) 894-7499 | |
(860) 297-3800 | |
(302) 739-4251 | |
(202) 727-8000 | |
(850) 413-2806 | |
(404) 656-2056 | |
(808) 528-5400 | |
(208) 378-9510 | |
(773) 714-8050 | |
(317) 636-8204 | |
(515) 283-3163 | |
(785) 271-1199 | |
(502) 895-5915 | |
(225) 381-0656 | |
(207) 633-1090 | |
Maryland | (410) 998-3907 |
(413) 744-8483 | |
(517) 373-0220 | |
(651) 407-3149 | |
(601) 981-0755 | |
(573) 634-8455 | |
(262) 965-5761 | |
(402) 474-6900 | |
(775) 329-8387 | |
(603) 226-9114 | |
(973) 623-3989 | |
(505) 237-9397 | |
(212) 909-6813 | |
(919) 833-6838 | |
(701) 235-4108 | |
(614) 442-6601 | |
(405) 272-9221 | |
(503) 588-1974 | |
(610) 975-0572 | |
(401) 273-2921 | |
(803) 536-9874 | |
(605) 336-0177 | |
(615) 242-8758 | |
(512) 476-5101 | |
(801) 572-1218 | |
(802) 244-8540 | |
(804) 282-2240 | |
(425) 562-3128 | |
(304) 733-6904 | |
(608) 242-9473 | |
307-777-7401 |
4structures.com, LLC
The Structured Settlements and Settlement Planning Company
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888-325-8640
646-849-1588
New York City (Manhattan, Bronx, Brooklyn, Queens, Staten Island), Westchester(NY), Nassau County (NY) , Suffolk County on Long Island (NY), Albany County (NY), Oswego County (NY), Steuben County (NY), Broome County (NY), Onondaga County (NY), Fairfield County (CT), New Haven County (CT), Hartford County (CT) New London County (CT), Tolland County (CT), Litchfield (CT), Middlesex (CT) , Bergen County (NJ), Middlesex County (NJ), Ocean County (NJ)
Structured Settlement Experts and Settlement Planning Consultants for settlements from claims or lawsuits arising out of Aviation accidents, Medical Malpractice, settlements involving Serious Personal Injury, Wrongful Death, Wrongful Incarceration, Employment, Civil Rights, Discrimination of any type, Auto accidents, Motorcycle accidents, Maritime accidents, Workers' Compensation, Product Liability, Real Estate Liability, Construction Defect claims or lawsuits, Landlord/Tenant,
Property, Attorney Fee Deferrals, Funding Agreements, Structured Installment Sales, Environmental Liability and Commercial Dispute settlements.
Structured settlements and structured settlement brokerage, settlement planning, Sudden Money®, financial transitionist, funding agreements and insurance related services provided by 4structures.com LLC.
Financial Advisory Services provided through Groove Financial Advisors , LLC, and its service partners.
Fiduciary services, including the custody and administration of trusts provided via service partners.
Securities and Insurance Products are NOT Insured by the FDIC, nor by any other Federal or State Government Agency, are NOT a Deposit of and are NOT Guaranteed by a Bank or any Bank Affiliate, and securities MAY lose value.
4structures (USPTO Reg. 4640532) , 4structures.com (USPTO Reg. 4640531) , We Know Structured Settlements (USPTO Reg. 3089738),
Because Certain Sells (USPTO Reg. 6237309) and We Know Structured Sales (USPTO Reg. 3490489), are Registered Trademarks of 4structures.com LLC.
John Darer is a Registered Trademark of John Darer (USPTO Reg. 4674907)
John Darer California insurance license 0761076
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