A structured settlement annuity is your best option if you want to be sure a large sum of money you received after an accident will last you the rest of your lifetime. To ensure you are not falling for a scam, you have to be careful when you are evaluating the many companies that are available to provide this service.
The structured settlements Prudential Insurance Company of America offers go under the microscope in this review. When it comes to financial services, Prudential is known for offering just about any product. The first structured settlement annuity contract was offered by Prudential in 1984. They have been an active leader in this industry for three decades now.
Prudential Has a Long Track Record
For their structured settlement, nearly 50,000 people depend upon Prudential for their periodic payments. Single life annuities, deferred payouts, immediate payouts, medical underwritten annuities, and joint life annuities are among the offerings in their full product line.
Their record with the BBB is impeccable. Moody’s also recently upgraded Prudential from A2 to A1. Prudential has been in the financial sector for over 135 years. The individuals and institutions who enlist their services number around 50 million. 97 percent of United States consumers are aware of the Prudential brand, and they are the 29th largest corporation in the country. They use a rock for their logo as a fitting emblem of their secure financial state.
Experience with Structured Settlements
Prudential assists their customers with their structured settlements by relieving claimants of the tedious and scary responsibility of managing big sums of money. In their commitment to providing ongoing structured settlement services, Prudential has remained unwavering in an industry that sees a lot of big name life insurance companies entering and leaving the market.
As a major member of the National Structured Settlement Trade Association, they have helped frame legislation for the industry. Backed up by a robust and well-diversified asset portfolio, they provide a guarantee to ensure that your structured settlement payments will keep coming for the rest of your life or however long you want. Prudential has about $168 billion in assets.
With a Prudential structured settlement, streams of payment are decided upon at the time of the settlement based on a court order or through mutual agreement between the injury victim and the defendant. This is done to meet the needs of each payee. For financial struggles like modified vehicles, education expenses, medical costs, living expenses, and more, this money is meant to address unique and ongoing cash need for injury victims.
Prudential offers the following structured settlements among others:
- Lump sum payments – Annuity benefits can be supplemented by guaranteed lump sum payments to help with future financial needs.
- Designated-period annuity – Payments can be guaranteed for a specific amount of time
- Life annuity with installment refund – For as long as the payee lives, this provides income with a minimum guaranteed payout equal to the purchase price.
- Life annuity – Payments are guaranteed for the entirety of the payee’s life.
- Survivor and join life annuity – This product provides income for the rest of two payee’s lives. Once one payee dies, the remaining payee can continue to either get payments at 100 percent or at a reduced rate.
Prudential Insurance Company of America can assist you with any questions you may have about their services through their toll free number 1-877-PRU-2100 (778-2100). Three Gateway Center 14th Floor, Newark, NJ 07102 is where this corporate headquarters are located. Their http://www.retire.prudential.com/ site houses all of the information on their structured settlement products.Call Us Today
It’s no secret to anyone that the last few years have not been kind to our collective pocketbooks. Between the housing bubble bursting, unemployment skyrocketing, and the relentless rise...
In many respects, having to sell an annuity or a structured settlement in exchange for a lump sum can be a deeply personal experience. After all, the whole reason...
One of the better assets of receiving a structured settlement is that it can be used as a financial resource in the event of a monetary predicament. While the...