Tue. May 30th, 2023

new york life insurance company structured settlement

New York Life Insurance Company – Structured Settlement

If you’ve been involved in a personal injury or workers compensation claim and you’re thinking of settling your case with a structured settlement, New York Life can help. We’ll help you get a fair settlement and ensure your rights are protected.

A structured settlement allows you to receive guaranteed periodic payments over a period of time. These payments are designed to address your specific needs and goals. They’re also tax-free.

Payments over a period of time

If you are an injured victim, a structured settlement can offer you a reliable stream of tax-free payments over a period of time. The payments are designed to help you meet your medical and living expenses as you rebuild your life.

The most common type of structured settlement is a deferred annuity. These annuities are often used in personal injury lawsuits and other types of litigation. Typically, these annuities are issued by large insurance companies that have financial stability. They are a great alternative to investing in stocks, bonds or mutual funds.

In addition, these annuities are a better option than lump sum settlements because they provide more security. They allow claimants to spread their payments over a long period of time and are not affected by market fluctuations or economic downturns.

These annuities can also be inherited by loved ones, allowing them to receive a tax-free income stream after the person dies. They can be used to replace income from a deceased family member, which can be especially important if the person was in a high tax bracket or had a lot of taxable income coming from other retirement accounts.

Structured settlements can be tailor-made to meet any need or financial goal. They can be set up to pay out monthly to mirror a paycheck, or they can be set up in lump sums for specific costs like a child’s college tuition.

This flexibility is why they are a popular choice for personal injury and workers’ compensation settlements. In fact, it is often required by court orders in these cases.

A structured settlement can also be a good option for minors who are involved in personal injury or product liability claims. This is because the money is meant to be spent on their needs until they reach adulthood.

Another benefit of these settlements is that they can be sold, allowing the owner to access cash. This can be a smart way to fund upcoming expenses, such as a new home or a car.

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If you own a structured settlement and are looking to sell, you can contact us for a free step-by-step guide that will walk you through everything you need to know to sell your structured settlement payments. The process is simple and will help you get the most out of your settlement.

Tax-free income

A structured settlement provides a guaranteed stream of income tax-free. These payments are designed to provide claimants with financial stability for the future and can be customized to fit their needs.

A new york life insurance company structured settlement can provide a variety of options for claimants to choose from. They can receive payments on a monthly, quarterly, or annual basis or even on a lifetime basis.

In addition to income, structured settlements may also provide a death benefit. This is a great way to pass along money to a loved one after the settlement holder’s passing.

If a claimant dies before the annuity is fully funded, the settlement can be inherited and paid out to a designated beneficiary or beneficiaries on a tax-free basis. If the annuity is funded with a commutation rider, remaining payments can be commuted to a lump sum payment at the time of death.

This option is a great choice for claimants who want to pay for their funeral expenses, leave money to a surviving spouse or children, or for those with special needs. It can also help pay estate taxes, in certain cases.

Unlike lump sum payments, structured settlements can be inherited by a loved one or a beneficiary and can continue to provide income tax-free payments indefinitely. This can give a claimant peace of mind and increased security, as it can allow them to live their lives without worrying about their financial security.

Since 1983, Congress has encouraged the use of structured settlements to resolve personal physical injury and wrongful death claims. As a result, many injured people have been able to receive their settlement awards as streams of tax-free income through a structured settlement annuity.

While these structured settlements can provide a stable source of income for claimants, they do not offer an alternative to other investment vehicles that provide a more flexible investment and a higher rate of interest. If you are considering a structured settlement, it is important to weigh the costs and benefits of different payment options in light of your needs, goals and tolerance for risk. You should consult with a qualified legal, tax and accounting advisors to help you make the right decision for your situation.

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A structured settlement allows you to set up payments in a manner that matches your needs for the long term. It is a flexible product that can help you pay for medical expenses, provide income for children, or even fund a retirement plan. It can also be used to fund long-term care insurance if needed.

You can choose to receive your payments immediately or delay them for as long as you want. This flexibility can help you avoid making large purchases, such as cars or homes, and it can allow you to secure future financial security.

In addition, a structured settlement annuity will never fluctuate in value like stocks, bonds and mutual funds. It will always be guaranteed by the insurance company that issued the annuity.

The insurance companies that issue these annuities are required to keep a certain amount of money on hand, called surplus. This money can be used if the insurance company needs to pay out more than expected in claims.

Surplus is often a sign that an insurance company is financially strong, and it is one way to ensure the safety of its policyholders. It also helps them meet their reserve requirements if there is a major claim.

Choosing an insurance company that is well-established and has a good track record is important. In particular, you should consider whether or not the company has a history of paying out settlements on time.

A new york life insurance company structured settlement is a type of annuity that can be purchased through an insurance agent or broker. You can choose from several different types of annuities, including interest rate linked, market-based and indexed linked annuities.

You may decide to sell a portion of your future payments, in which case the insurance company will deduct a discount rate from your payments. This can help you determine how much your payments are worth, or what your annuity’s present value is.

If you sell your payments, they can be invested and can generate tax-free income or cash. You can also use them to cover your living expenses while you are pursuing a legal or medical settlement.


A structured settlement offers financial security to a person who has been injured. It can be designed to provide regular payments over a specific period of time, or a one-time lump sum payout. It also allows the recipient to tailor payments for future expenses like retirement, college tuition, and other known needs.

Many people choose to receive a structured settlement over a lump sum because it can offer greater long-term financial security. Unlike stocks, bonds and mutual funds, structured settlements do not fluctuate with the market. In addition, the payments are guaranteed by the insurance company that issued the annuity.

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New York Life has a long history of providing insurance products that provide peace of mind and financial stability. Its life insurance products have received the highest credit ratings from all four major credit rating agencies, including A.M. Best (A+), Fitch (AAA) and Moody’s Investors Service (Aaa).

The security offered by a structured settlement is important because it can provide a source of financial stability for a person who has been injured. It may be especially helpful for those who have a long-term illness or disability and need money to support themselves.

It can also be helpful for children who have been involved in personal injury, product liability or other scenarios where the child was severely injured. The funds can help pay for medical bills and other living costs until the child is able to support himself or herself.

There are certain laws in place to prevent unscrupulous settlement buyers from stealing the money of structured settlement recipients. These laws include the Structural Settlement Protection Act and the Anti-Money Laundering Law.

Some settlement companies, called “factoring companies,” may offer to purchase structured settlement payment rights in exchange for discounted lump sums. They typically make these purchases using a technique called “secondary market annuities,” which can be confusing for settlement holders.

Allstate has the veto power to deny such transfers unless they can show proof of need and have the court approve the transfer under the SSPA. Allstate’s structured settlement agreement indicates that such transfers are only available in states with a structured settlement transfer act. It also lists the requirements for such an approval.

Jeffrey Augers
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By Jeffrey Augers

Jeffrey Augers is a highly skilled and experienced financial analyst with over 12 years of experience in the finance industry. He has a proven track record of delivering exceptional financial insights and recommendations to clients, empowering them to make informed decisions and achieve their financial goals. Jeffrey holds a Bachelor's degree in Finance from the University of Michigan, and an MBA from the Wharton School of Business.