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Traditional Annuity Rejected Opens Door for Settlements Plus™

Structures

Case involved a tractor trailer collision with a car that resulted in the fatalities of the parents of three adult children. Unlike a lot of fatality cases, the adult children were not dependent on the parents, were financially savvy, established in their careers and possessed other financial assets to meet their immediate and long-term needs.

The structured settlement consultant presented structured settlement annuities as a part of a settlement plan for the adult children. Despite the guaranteed tax-free returns from the traditional annuity, the plaintiffs rejected the annuities and inquired about the availability of market-based structured settlement programs.

The consultant then presented Settlements Plus as a program to realize market-related returns with tax-free growth vs. taxed post-settlement gains from investing their all cash settlements. As a result, two of the family members elected to utilize Settlement Plus (they were employees of a bank and wanted to have the bank manage their assets within the program) and the third family did not want to take market risk and elected to receive a structured settlement annuity for a portion of their settlement proceeds.

In the end, Settlements Plus helped provide some acceptable settlement solutions for all the family members that had differing needs/desires for their settlement proceeds. Without Settlement Plus, the clients were planning to take cash. With Settlements Plus, the clients chose their own financial advisor to manage their money, secured tax-free gains on those funds, and then realized the advantages of a structured settlement annuity for a portion of their settlement.

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