Litigation

Prudential Bombshell! No More Non Qualified Assignments Through Pruco!

By John Darer

Effective immediately, Prudential has decided to suspend the sale of annuities in
connection with non?qualified assignments through Pruco Assignment Corporation
(?PAC?).

In recognition of open cases that brokers may currently have pending, PAC is
authorized to accept purchase commitments (?lock ins?) on Prudential?s behalf on or
before June 12, 2009. Current pending lock ins will, of course, also continue to be
honored. Further, all funds for these cases must be received by PAC on or before June
30, 2009.

Please note that in order to ensure that all potential cases are properly
identified and reserved for, all new cases must be locked in prior to funding.
Current Annuities funding Non?Qualified Assignments

This suspension of sales will have no impact on existing non?qualified assignments.
In its information  release Prudential stands behind its commitments on all Prudential annuities owned by PAC.

Full post as published by Structured Settlements 4Real on May 29, 2009 (boomark / email).