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Litigation

: Structured Settlements 4Real

What Is A "Structured Settlement License"?

By John Darer

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On a number of structured settlement industry/settlement planning industry web sites it is advertised that one or more individuals are a "licensed structured settlement broker"

There are structured settlement brokers who hold life insurance broker's licenses , or agent's licenses for life insurance (in most states that includes non variable annuities) with carrier appointments, in the various states where they solicit annuity or insurance business. There is, however NO SUCH THING as a "structured settlement license".

Those that place structured settlements are required to possess a valid life insurance license as one of the prerequsities to receiving an appointment from the life insurance companies who write structured settlement annuities.

A number of individuals and companies that purchase structured settlement payment rights deceptively try to position themselves as a "structured settlement broker". Those individuals and companies do not actually place annuities and only pay you cash in exchange for the right to receive your payments. These individuals and companies are more than likely NOT life insurance licensed and highly unlikely to have been appointed to place structured settlements by any structured annuity issuer or alternative periodic payment provider involved with the placement of structured settlements funded by United States Treasury Bonds or TIPS.

If you run into someone that advertises that they are a "licensed structured settlement broker", after you lower your "jaundiced eye", you should ask if they possess a valid life insurance license in your state. Many states give you the ability to verify license information on line.

Full post as published by Structured Settlements 4Real on June 07, 2008 (boomark / email).