Some good and interesting news for litigating lawyers today. There is a new life insurance company that entered the settlement and settlement planning market, Independent Life Insurance Company, and it is very important that litigating lawyers know who they are, their business model and why it is important. So now we will talk about independent life insurance company structured settlements.
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What is a structured arrangement?
A structured solution is an agreement used to resolve a dispute when the plaintiff receives future payments instead of a lump sum. It can be used for the total or partial amount of the plaintiff’s recovery. Payments can be made in regular installments, such as monthly or annual payments, or in lump sums. Payments can be initiated immediately or postponed until a later date. The party that accepts the obligation generally purchases payments from an insurance company to guarantee the payments. This agreement provides security for the plaintiff and provides its funds from the “ups and downs” of the market.
So what is the deal with Independent Life and what do lawyers need to find out?
These are the first new participants in the structured solution business and solution planning in almost ten years. In a profession with a steady decline in life companies and financing options. A new competitor will help maintain competitive prices. And perhaps offer new and additional services over time for settlement planners and trial attorneys.
But with a dedicated approach and a goal to provide structural settlement products and services. This specific focus on prices service and subscription has certain advantages that over time should benefit. Both plaintiffs and trial attorneys. In addition although they are new. They have a veteran and experienced team that knows structural arrangements well and must know. How to handle this single market with a learning curve.
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As a new and smaller company, they will face significant competitive pressure from large and highly rated companies in the structured settlement space, so when offered as an option, it will be crucial that litigating lawyers, judges and companies understand the victims. A slightly unique format as a starting point to assess your suitability for a particular case fairly. There will be a lot of debugging there, so it is important that you know the facts about your business plan, solvency, prices and service.
Why even think of a smaller company like this? If the best price value for a customer is, you should estimate the value of that price compared to the size and reputation of older companies. To do this, you need to obtain planners who can fully explain and protect their use and, as litigating lawyers, you must claim that supporting information for your clients, judges and defendants.
Independent Life Insurance Company structured settlements
Independent Life will be an active advocate of the structured settlement process. Including using an innovative grant program to expand and improve the structured planning and settlement space. This is urgently needed as the investment in revenue controls ideas and planning as a commitment to the markets of life has been severely lacking for years. And this can only generate important changes to improve the process of arrangements for victims of damage.
Independent life insurance company
Independent Life Insurance Company is the first annuity provider that focuses completely on the market. For structural arrangements to help victims of personal injury and their families. The mission of Independent Life is to provide reliable competitive. And innovative annuity products that professional consultants can easily integrate with other financial products. And government benefits to provide the best settlement planning solutions for personal injury victims and their families.
- Independent Life will provide the structural agreement brokers and other industry stakeholders with a program of grants, educational resources and analytical studies to help them innovate and grow the market for structured agreements.
- Independent Life will support stakeholder associations in structural and settlement agreements that will prioritize the “best interests” of victims of personal injury, as well as the continued growth of the structured settlement market.
- With the contribution of several stakeholders in the structural agreement, Independent Life will investigate and develop competitive and innovative products that professional advisors can effectively integrate with financial products and other government benefits.
In summary, this is an important and innovative entry into the liquidation planning market, since the companies that most decide to create a structured liquidation division are life insurance companies. This new beginning provides a unique pricing strategy, a well-established management team and a commitment to the agreement planning process that only damage victims can.
Before you go, I hope this summary on independent life insurance company structured settlements is helpful for you.