| | Late last week, the federal government’s Middle Class Task Force, chaired by Vice President Joseph Biden, issued a report highlighting ways for Americans to improve their financial security, including maintaining a more secure retirement. The report concluded that annuities, which are typically the preferred way to fund structured settlement payments, are an effective way to improve financial security, given the high degree of certainty and the benefits of regular income.
The Legal Broadcast Network has an important post about the implications of this report for injury victims or dependents considering a structured settlement:
For those in the annuity business, particularly those who work in structured settlement annuities or work with lawyers on their pension plans, this [report] comes as welcome news but no surprise as to the value of the annuity concept to lock in guaranteed income investors can't outlive, outspend or dissipate.
As New York Times columnist Ron Lieber says in his current “Your Money” column, “If the biggest risk in retirement is running out of money, an annuity can help guarantee that you won’t.”
The NSSTA has published a hand-out on the financial security associated with structured settlements funded through annuities. To download a free copy, please click here.
About structured settlements
Recognized and encouraged by the federal tax code since 1983, structured settlements provide strong financial security to victims of physical injuries and their families. Using a tailored stream of payments, a structured settlement provides a long-term payment stream that is completely exempt from state and federal income taxes.
A structured settlement’s future payment stream is funded through a highly secure life insurance annuity. For a free handout that describes some of the consumer protection regulations that bolster the security of a structured settlement annuity, please click HERE.
The National Structured Settlements Trade Association (NSSTA) represents nearly 1,200 licensed consultant, brokers, insurance companies, and other professionals involved in establishing and administering structured settlements. |
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