The Structured Settlement Industry has recently received significant attention from the press regarding circumstances where Structured Settlement purchases are being overturned or Vacated.
In a very unfortunate example, the Attorney General of Maryland has sued a major factoring company for predatory sales practices related to a lead paint poisoning class action law suit.
Additionally, several investors have been victimized by rogue Law firms who were caught falsifying documents, stealing payment streams from unknowing plaintiffs, then selling these payment streams to investors.
When Structured Settlement court orders are reversed or vacated, the payment stream is re-directed back to the original seller. Consequently, investors lose all remaining annuity payments with little to no recourse.
Today, investors can eliminate the risk of vacated structured settlement court orders with Vacate Insurance
Created by Altium Group and underwritten by Lloyds of London, “Vacate Insurance” is specifically designed to protect investments in structured settlements from the risk of vacating or reversing court orders
According to the recent reports of several industry professionals, agents and financial advisors who sell structured settlements have a “fiduciary responsibility to inform their client of the availability of Vacate Insurance“.
Altium’s proprietary Vacate Insurance eliminates the transactional risk of overturning previously approved court orders by protecting investors against third party fraud, and violations of the structured settlement statute that would cause decision reversals.
For a minimal premium, our Vacate Insurance can be purchased by investors to protect new, and previously purchased (within 5 years) structured settlements. Vacate Insurance is available for purchase through select factoring companies that meet the quality and business practice criteria of Altium Group.
We believe that advisors have a duty to keep clients informed of this very important protection product.
Call or email Altium today to learn more about pricing, and how to purchase Vacate Insurance.