Mutual of Omaha - Structured Settlements
Mutual of Omaha is a life insurance company that wears many hats. They provide life insurance, home insurance, as well as other insurance products. One of the products they provide might not get much notice, but is just as important: structured settlements.
A structured settlement is an agreement to pay a certain amount of money at specified times in response to damages established by a court case or lawsuit. The legal system requires that insurance companies take over the payments on structured settlements in order to ensure that the victim doesn't lose out on compensation if the defendant goes bankrupt or refuses to make payments.
Life insurance companies make structured settlements based on the defendant providing them a lump sum of money up front, usually less than the damages that will be paid out. Insurance companies like Mutual of Omaha then use this initial payment and the interest that it accumulates over the term of the settlement to make payments, and generate a profit on interest earned while the payments are being made.
It is important to pick a qualified life insurance company if you are setting up a structured settlement, and in that regard, Mutual of Omaha is one of the most widely known firms. They have a long track record of providing excellent insurance and financial products and have been in business for over a century, as it was founded in 1909.
There are a number of other benefits that Mutual of Omaha outlines for using them for structured settlements. One of the biggest is the amount of experience that Mutual of Omaha has in the field, which lets them understand and navigate the complicated financial regulations that surround insurance, structured settlements, and other financial products. As a result they can set up the structured settlement in a way that can avoid taxation, provide flexibility, and ensure that benefits are paid to a beneficiary upon the claimant's death. This provides security and confidence that your income stream from your structured settlement or annuity can be relied upon.
Like most structured settlement companies, Mutual of Omaha does not list any of its fees or rates for providing structured settlements. This makes sense given the complex and unique nature of each structured settlement. Instead, you will have to call them for a consultation on your structured settlement or annuity to determine how much the cost will be to you to establish the appropriate product.
Another helpful service Mutual of Omaha provides when it comes to structured settlements is making sure attorney's fees are appropriately calculated and distributed. This is important as many lawyers take cases under the understanding they will receive part of the judgement if they are successful.
Mutual of Omaha is a well-established and trusted life insurance company that has been in operation for more than a century. As a result they are a prime candidate when you need to buy a structured settlement or annuity to settle a lawsuit or compensate damages determined by a court. You can contact them for a quote and see what they can do for your specific situation.