Insurance offers a vital safety net, protecting us against financial loss "if something bad happens". We all buy many different types of insurance to cover actual or perceived risks. Sometimes it's also because we have to. Other times it's because we choose to, to protect ourselves and our families in the event something happens to us, or perhaps just the one(s) paying the bills, to assure our survival and our family's survival, to be able to pay medical bills, or cover liability in the event of an accident, or a fire, or a flood, or if we die sooner than expected or live a long life..
Structured settlements address the thing that most people worry about the most, providing a customized stream or streams of stable tax-free income.
Insurance regulators are charged with ensuring that insurance companies can fulfill their financial obligations to policyholders. One way they do this is by imposing a risk-based capital (RBC) requirement. The RBC requirement is a statutory minimum level of capital that is based on two factors:
RBC is intended to be a regulatory standard and not necessarily the full amount of capital that an insurer would need to hold to meet its objectives.
The National Association of Insurance Commissioners (NAIC), adopted a life RBC formula in 1992, which was implemented in 1993. There are separate RBC formulas for each of the primary insurance lines ofinsurance business:
According to the National Association of Insurance Commissioners, the purpose of RBC requirements is
to identify weakly capitalized companies, which facilitates regulatory actions to ensure policyholders will receive the benefits promised without relying on a guaranty association or taxpayer funds.
The RBC formula calculations are critical thresholds that enable timely regulatory intervention. RBC requirements are not designed to be used as a stand-alone tool in determining financial solvency. Rather, RBC is one of the tools that gives regulators legal authority to take control of an insurance company.
According to the National Structured Settlements Trade Association, insurance company’s risk-based capital ratio measures assets, liabilities and the degree of risk associated with its operations and investments. The ratio is obtained by dividing a company’s capital by the minimum amount of capital that authorities feel is necessary to support its insurance operations.
In the extremely rare event that a life insurance company becomes financially troubled, state insurance commissioners have authority to take immediate action. With court supervision, the insurance commissioner will attempt to build the company’s capital so that it can continue to meet its obligations.
4structures.com, LLC
The Structured Settlements and Settlement Planning Company
43 Harbor Drive, #309 Stamford, CT 06902 USA
888-325-8640
646-849-1588
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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),
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