Structured Settlements Definition

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2 the broker must have a current license or appointment issued by at least one life insurance company to sell its structured settlement annuity contracts or to act as a structured settlement consultant or broker for the company.

Structured settlement broker license. If you have any questions please contact the civil divisions torts branch at 202 616 4400. A structured settlement broker also known as an annuity broker is a professional specifically trained in negotiating and facilitating a payout schedule for a monetary settlement that has been awarded to an individual or family as the result of a lawsuit. There is however no such thing as a structured settlement license. Product not available in all states. Structured settlements are often used as financial. Usually the lawsuit stems from an injury due to negligence on the part of the defendant and a compensation amount is agreed upon by both. There are several different types of payments negotiable instruments cash based contracts and agreements that can be sold or purchased in the money market. The structured settlement broker plays a very important role in the purchase and sale of such settlement payments. Insurance broker would receive commissions from insurer upon placement of the annuity contracts. The civil division engages licensed structured settlement brokers to administer settlement payments according to their schedules. A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule rather than as a lump sumas part of the negotiations a structured settlement may be offered by the defendant or requested by the plaintiff. There are structured settlement brokers who hold life insurance brokers licenses or agents 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. Insurance broker would agree to share with insurance agent the commission for services performed in obtaining a structured settlement annuity contract. Insurance broker would pay to insurance agent the agreed upon share of such commissions. Structured settlement broker links.