Structured Settlement Annuities Primary Market $9.551 in 2024

John Darer • January 8, 2025

Smashes Previous Highs Through Rates, Innovation and Hard Work

structured settlement industry sales in 2024 a historical high

The structured settlement primary market reached an all time record high in structured settlement annuity placements in 2024, with year end industry structured settlement annuity production clocked at just shy of $9.6 billion. MetLife was again the front runner, with 2024 production $29.2 million shy of $3 billion, while 3 other companies exceeeded $1 billion.


MetLife                    $2,970,800,000

Pacific Life               $1,840,900,000

Prudential               $1,399,120,000

USAA Life                $1,239,000,000

New York Life         $   883,805,172

Independent Life   $   451,656,993

American General $   415,612,696

United of Omaha   $  358,700,000


Notes


  • MetLife includes underwriting companies Metropolitan Life Insurance  Company and Mettrpolitan Life Insurance Company
  • Pacific Life includes Pacific Life Insurance Company and Pacific Life & Annuity Company
  • American General includes American General Life Insurance Company and United States Life Insurance Company in the City of New  York
  • Prudential includes The Prudential Insurance Company of America.


Why Structured Settlements?   Because Certain Sells®


Structured settlements offer predictable income streams, which can be appealing to rein in uncertainty. Here are some other reasons that structured settlements are increasingly being used to settle cases:


  1. Financial Security: Structured settlements provide a steady income stream over time, which can offer long-term financial stability to plaintiffs. This is particularly beneficial for individuals who may not have the financial acumen to manage a large lump sum effectively.
  2. Tax Benefits: Payments from structured settlements for personal injury or wrongful death cases are often tax-free. This can result in significant tax savings for the recipient, making it a more attractive option compared to a lump sum payment.  See Tax Advantages of Structured Settlements | Taxable Equivalent Yield Chart
  3. Customization: Structured settlements can be tailored to meet the specific needs of the plaintiff. Payments can be scheduled to cover future expenses such as medical bills, education costs, or housing needs, providing a customized financial solution. 
  4. Protection from Overspending: By receiving periodic payments, plaintiffs are less likely to spend the money quickly or unwisely. This helps ensure that the funds are used for their intended purpose and provides ongoing financial support.   Types of Structured Settlement Payments | Structured Settlement Payment Options
  5. Legal and Financial Support: There has been an increase in the availability of legal and financial advisors who specialize in structured settlements. These professionals can guide plaintiffs through the process, ensuring they make informed decisions and maximize the benefits of their settlement.
  6. Economic Stability: In times of economic uncertainty, structured settlements offer a predictable and stable source of income, which can be reassuring for plaintiffs who are concerned about future financial stability and viability.


These factors combined make structured settlements an attractive option for both plaintiffs and defendants and attorneys in various types of legal cases. Do you have any specific questions about how structured settlements work or their benefits?


Last updated February 18, 2025


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