The Gift That Keeps On Giving
Thanks to advances in underwriting and risk management, J.G. Wentworth can buy guaranteed structured settlement payment streams, as well as those with no guarantee, which means the payments will stop when the annuitant dies.
According to Dan Bonner, who manages J.G. Wentworth’s “life contingent” business, liquidity for nonguaranteed payments has helped a lot of people. “When we let customers know they can now sell these payments, many are ecstatic because it opens up a whole new source of funding for them.”
Bonner added that this newfound liquidity also offers a way to help dependents as well as annuitants. “Nonguaranteed payments end when the annuitant dies. One of the problems with this is that oftentimes entire families depend on these payments. The ability to sell them offers annuitants a way to provide for their families after they are gone.”
Life-only payments have a positive impact on J.G. Wentworth’s bottom line too. “Buying the nonguaranteed payments offers us a strong competitive advantage,” said Bonner. “In addition, reaching out to existing customers with a telephone call to let them know they can sell heretofore illiquid payments has proven to be very economical marketing.”