What is it?

The insurance company, self-insured or TPA purchases a fixed annuity from an A.M. Best A, A+ or A++ rated life insurance company to pay the Claimant a series of payments for a specific period of time or for the Claimant’s lifetime.

The Structured Settlement is GUARANTEED, FIXED, and TAX-FREE for the claimant.

Benefits include:

• Cost savings
• Caps exposure
• Transfers mortality and investment risk to the life insurance company
• Eliminates future reserve contributions
• Leveraging of rated ages offered by life insurance companies
• Can be used to help settle both indemnity and workers compensation claims

Services Performed by Fortis Settlement Solutions

• Collect and review claimant’s medical information
• Submit appropriate medical information to the various life markets to obtain rated ages
• Prepare Annuity Proposal to fund the MSA which requires pricing the annuity with as many as seven dierent life insurance companies to obtain the most competitive pricing
• Participate in Settlement Negotiations, either in person or over phone.
• Prepare pricing and funding options during settlement negotiations, or as a resource to the adjuster
• Upon notication of settlement, we determine the most competitive annuity pricing available prior to annuity funding. This requires re-quoting all annuity components to the settlement
• Request annuity premium check(s) from self-insured, insurer or TPA.
• Gather claimant information including proof of birth and, if applicable, beneciary designation
• Prepare annuity application(s)
• Fund all annuity components of the settlement
• Provide defense counsel with required wording for all settlement documents
• Review all required documents prior to obtaining signatures and any necessary court or board approval
• Prepare and circulate assignment or reinsurance documents for proper signatures
• Obtain the signed and approved settlement documents from defense counsel
• Distribute issued annuity policies to all parties.
• Lifetime policy services for claimant (address, banking and beneciary changes; etc.)

Our value added services will provide you with the detailed and comprehensive information you need to assist you in negotiating a settlement for the benefit of all parties.