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Mark E. Maidens, CSSC, MSCC
5668 Fishhawk Crossing Blvd
Suite 163
Lithia, FL 33547
(877) 565-8644 (Toll Free)
(813) 689-5580 (Office)
(813) 240-3049 (Mobile)
(813) 689-5969 (Fax)
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Structure Strategies
State Trooper Is Post-Settlement Protected
Paul looked forward to many years of service for the state patrol when he joined in his early 20s. But his career in law enforcement abruptly ended when he was diagnosed with a severe cardiac condition. Paul underwent multivalve bypass surgery and was declared permanently disabled under workers' compensation. He would need continued medical care for the rest of his life.
So when it eventually came time for Paul to settle his workers' comp claim, he sat down with his attorney and a Ringler advisor to create a Medicare Set-Aside (MSA) powered by a structured annuity. They also added a contract from a medical services management company specializing in Medicare benefits to manage the MSA post-settlement. When all was said and done, Paul left the settlement table feeling confident that his financial and medical needs would be met for the rest of his life. The insurer was satisfied that its exposure was limited. And his lawyer could close the file, knowing the medical management company would always be there to advocate for Paul and ensure that his Medicare benefits are protected.
"You can't settle a case like this and just leave your client high and dry," Paul's lawyer said. "There are too many complications. But having the experts involved at Ringler and the medical management company really made it easy for my client and me. It's a win-win for everyone."
(Note: While "Structure Strategies" is based on actual case histories, the names and images of the people involved are changed to protect their privacy.)
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BOOM! Drop the Mic on 2023
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... And Don't Miss the 2024 Encore Performance
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$8,623 Billion! That was the total amount in premiums placed by the structured settlement industry in 2023, an all-time, record-setting year.
29,810! That’s the total number of injured people who opted for the guaranteed, tax-free income and financial security of a structured settlement.
“Why should I care?” you might ask. Because now might be the best time ever to recommend what has always been an exclusive benefit for injured people and their families: a structured settlement.
5 Reasons Why More People Than Ever Are Choosing Structured Settlements
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Competitive Interest Rates
Interest rates on 30-year Treasury Bonds ranged from 3.5% to as high as 5% in 2023. Thus, life insurance companies are offering the best interest rates we’ve seen in years on the annuities at the core of a structured settlement. Moreover, we expect these favorable rates to continue in 2024.
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Tax-Free Payments PLUS No Fees
Thanks to an act of the U.S. Congress, payments received by an injured person from a structured settlement are tax-free. There are also no management fees, which can range as high as 1%. These benefits and favorable interest rates add up to returns on a structured settlement that rivals any traditional investment.
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Guaranteed Financial Security
Structured settlement annuities from Ringler are backed by the nation’s largest and strongest life insurance companies. These companies are legally required to hold reserves for the policies they issue and the risks they assume. Therefore, insurance companies keep the vast majority of their “depositors” funds on hand rather than loaning them out like banks.
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Market-Proof, Lifetime Payment Streams
Injured people and their families will never have to worry about financial security during volatile market swings. The customized payment stream they design during settlement planning will always be there to cover short and long-term expenses, from medical bills to home mortgages to retirement.
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Protection Against Premature Dissipation
An injured person may lack the financial sophistication necessary to properly manage and invest a substantial settlement fund. A structured settlement will help protect the funds needed to cover ongoing medical or living expenses well into the future.
Continued Strength Predicted for 2024
Many economic factors that powered the 2023 surge in structured settlements will likely continue in 2024. While the inflation rate has eased from last year, global inflationary pressures remain. Supply chain issues persist, especially around labor shortages and precious metals. Regional conflicts in Europe and the Middle East will continue to threaten market stability. Thus, the Federal Reserve has stated it will follow a measured approach to lowering interest rates. And that means we should see favorable interest rates on the long-term annuities that back structured settlements.
Simply put, now’s the perfect time for a structured settlement. Contact us today to discuss how a structured settlement can be a win-win for your next settlement negotiation.
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