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The typical structured settlement arises and is structured as follows: An injured party (the claimant) comes to a negotiated settlement of a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides as consideration, in exchange for the claimant's securing the dismissal of the lawsuit, an agreement by the defendant (or, more commonly, its insurer ...
Some salespeople call the investment in an annuity based on a structured settlement a secondary market annuity. This is a misnomer as it may not meet the definition of annuity under the insurance law for many states and therefore does not enjoy the statutory protections, which is a risk for the buyer. [1]
In the United States, an annuity is a financial product which offers tax-deferred growth and which usually offers benefits such as an income for life. Typically these are offered as structured products that each state approves and regulates in which case they are designed using a mortality table and mainly guaranteed by a life insurer.
Annuities can be structured in many different ways, depending on a customer’s needs. Some may guarantee you’ll receive a specific dollar amount of payments from the account over some period.
Annuities can be structured to provide regular payments for the rest of your life — no matter how long you live. Not outliving your savings is a huge advantage touted by annuity providers.
Annuity regulation is a patchwork of state and federal oversight, from state insurance departments monitoring agents and brokers to federal agencies regulating variable annuities. Despite these ...
Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity.
Prudential. Founded in 1875, Prudential is a leading financial services company with a long history. It offers six different types of annuities to consumers, including fixed, index and variable ...