Split age settlement easily

Aug 6th, 2022
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How to split age settlement

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A structured settlement is a regular stream of tax-free payments granted to the plaintiff in a civil lawsuit. Structured settlements are meant to provide long-term financial security to the injured party.
What is a Rated Age? Because a Structured Settlement is a life insurance product, it is possible to utilize a substandard age rating which is often referred to as a rated age. This concept suggests that there is a reduced capacity to the normal life expectancy of the claimant.
Structured settlements are the scheduled payments made to a plaintiff who settles a lawsuit or wins a judgment outright in court. Instead of taking a lump sum of money, the plaintiff receives the amount over time. Structured settlement payments do not count as taxable income even if they earn interest.
Rated Age is an age given based on an individuals medical impairments and the effect they have on their life expectancy. Example Take a 62 year old male (Life Expectancy of 21 years) with Diabetes, oral controlled and hypertension. The decrease in life expectancy is 4 years.
What is a Rated Age? Based on a number of factors, a life insurance company will issue a rated age, which reflects an individuals life expectancy. If your client was involved in a catastrophic accident, he probably has a limited life expectancy.
With a rated age, when an annuity company provides quotes for lifetime payment, the pricing (and the subsequent return on investment) are based on the clients rated age rather than on the clients biological age.
Unlike people who bought annuities as part of a financial or retirement plan, structured settlement recipients are not allowed to withdraw money early. But you still have options, including selling future payments.
What is a Rated Age? Based on a number of factors, a life insurance company will issue a rated age, which reflects an individuals life expectancy. If your client was involved in a catastrophic accident, he probably has a limited life expectancy.

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