Impersonation Mode

Below are comments sent to us that are unsolicited and unedited from our consultants.

Michael Goodman, a structured settlements producer from Florida, told us about a case he had with three young claimants. The challenge was to provide each of them with $1 million paid out over 25 years. His competition was a financial planner who wanted to create an income plan using tax-free bonds and a 50/50 stock and bond portfolio.

However, Goodman felt he had an advantage: the Index-Linked Annuity Payment Adjustment (ILAPA) rider. According to Michael, "I would NOT have gotten any structures without this benefit option. A financial planner was involved and it was very difficult, but ILAPA gave me an avenue."

Goodman showed the clients how they could help offset inflation by demonstrating the way ILAPA could grow the payments over time without any downside risk. The financial planner had laid out a plan, but after ILAPA was presented, the clients understood the long-term advantages of a structured settlement.

As a result, three structured-settlement contracts were issued utilizing ILAPA, which will help support the children for decades.

"The Pacific Life Index-Linked Annuity Payment Adjustment (ILAPA) option enabled me to facilitate a structured settlement on a case that would not have structured otherwise. The claimant was an injured woman in her early twenties, and she was unable to work for at least the next few years. She wanted to enroll in community college in the meantime and truly needed the financial security that a structured settlement could provide. Her financial adviser was discouraging the annuity, though, in favor of a market-based investment. When we introduced the ILAPA rider, we were able to demonstrate that the claimant could enjoy the same benefits of a structured settlement while having the chance to experience a degree of market-related growth. The claimant took a portion of her settlement in cash and structured the rest with the ILAPA rider. Everyone, including the plaintiff’s attorney, felt great about the overall plan. I know that without the ILAPA rider, a structured settlement would not have happened."

Marjorie Smith, Millennium Settlement Consulting
Certified Structured Settlement Consultant

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