New York City Structured Settlement Annuities 2021

What are structured settlement annuities?

New York structured settlements

  • What are structured settlement annuities?
  • How are structured settlement annuities different from traditional retirement annuities?
  • Wwhich NYC licensed life insurance companies issue structured settlement annuities

    in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland counties in 2021?

These companies issue structured calculations. annuities
to help fund settlements in the New York City area for personal injury, medical malpractice, wrongful death, aviation, car accidents, and workers’ compensation; and to fund a structured Medicare program delayed in 2021.

  1. Berkshire Hathaway’s first life insurance company Home Office:
    Flushing, New York
  2. Metropolitan Life Insurance Company Home Office:
    New York, NY
  3. Life insurance company Metropolitan Tower Home Office
    : Wilmington, Delaware
  4. Metropolitan Life Insurance Company Home Office:
    New York, NY
  5. New York Life Insurance Company Home Office:
    New York, NY
  6. Pacific Life and Annuity Company Home Office
    : Newport Beach, California
  7. Prudential Insurance Company of America Home Office:
    Newark, NJ
  8. New York City Life Insurance Company Home Office:
    New York, NY

Settlements in neighboring counties in the three-state New York area, such as Fairfield County, Connecticut, and Bergen County, New Jersey, will replace Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company, and American General Life Insurance Company under the numbers 1., 6 and 7 respectively. In addition, there are several insurance companies such as United of Omaha, USAA Life, Independent Life, and Wilcac Life Insurance Company that issue structured settlement annuities elsewhere, but do not issue policies in New York State.

Note that a limited number of insurance companies annuit structured settlement annuities compared to the number issuing other types of annuities and insurance products.

New York CPLR Section 50A or 50B Structured Judgment Funding

For cases in New York that come to structured judgment
, pursuant to Section 50A or Section 50B NY CPLR, only three of the above structured settlement annuity issuers will issue annuities to fund NYS structured judgments:
  1. Metropolitan Life Insurance Company
  2. Pacific Life and Annuity Company
  3. New York City Life Insurance Company

The onerous provision for accelerating late payments in Articles 50A and 50B CPLR is the main reason why only three carriers issue structured annuities by court order in New York State. Pursuant to CLPR Section 5044, if a structured judgment debtor “is unable for any reason to make timely payment under the terms” of section 50B, the creditor may be ordered to expedite all recurring payments without conversion to present value.

Periodic payment reinsurance

available through the National Indemnity Company (Berkshire Hathaway)

Structured settlement annuities are offered only through designated general structured settlement management agencies by their licensed employees or through affiliated independent agents and brokers licensed to insure.
… We provide structured settlements and structured decision advice to clients in New York City claims in Manhattan, Bronx, Brooklyn, Queens, Staten Island, Long Island (Nassau and Suffolk counties), Westchester, Orange, Hudson, Albany, Binghamuta , Oswego, South Level, Rochester and Buffalo and other regions of New York State.

Please note that structured settlement can also be funded with US Treasury bonds. Market structured settlement solutions are also available for recurring payment plans payable to plaintiffs, attorneys and law firms.

Need a quote on structured settlement now?

Call 888-325-8640 free of charge, for structured settlements in New York for personal injury in New York, wrongful death in New York, medical malpractice in New York, structured settlements for employment in New York, structured settlements quotes for divorce, structured offers for reinsurance of recurring payments for the sale of a business in installments and the sale of real estate in installments. Or you can fill out a short contact form here

# New YorkStructured settlements #new

Last updated October 10, 2021



Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *