The broker develops payment schedules matched to anticipated needs, obtains annuity quotes, and coordinates the assignment and funding. Brokers may represent either party or work jointly.
Rated ages may increase payments for impaired life expectancy.
Alternative Names:
Settlement Broker|Structured Settlement Consultant
Why it Matters?
Rated age underwriting increases periodic payments for the same cost where the claimant's life expectancy is medically impaired, which makes a structure more attractive to the claimant while costing the defendant no more. That efficiency is the strongest argument for a structure in catastrophic cases. Broker independence matters, since a broker representing only the defendant may face objections about the arrangement's fairness.
Frequently Confused with
Related terms
Frequently asked questions
What is a rated age?
Why does broker independence matter?
