For Carrier Home Office

PROVIDE THE INJURED INDIVIDUAL WITH AN OPPORTUNITY TO TURN PROCEEDS INTO LIFETIME SECURITY

According to studies and surveys, most claimants exhaust benefits meant to last a lifetime (see) and often cannot pay for necessary future costs like medical expenses (see). Structures offer flexible guaranteed future payouts uniquely tailored to the injured individual’s plan (see).

DO THE RIGHT THING FOR THE INJURED INDIVIDUAL

Structured settlements are designed to address specific needs with a tailored, tax-free, income-driven financial plan. The annuities are secured by well-capitalized, highly-regulated life insurance institutions (see). Structures also afford protection from premature dissipation, loss of needs based entitlements, misuse, bad investments, market volatility, recessions, and product risk (see).

DO THE RIGHT THING FOR YOUR CLAIMS ORGANIZATION

Structured settlements offer the prospect of more accurate reserve allocations and analysis, and ultimately the ability to move liabilities off the books. We can bridge the negotiation gap and push past issues that stall settlements. In fact, studies indicate that most adjusters believe that a claim is more likely to settle if a structure is introduced (see). Harnessing the tax benefits with funding flexibility provides more options for a fair and reasonable settlement outcome for all parties (see). Structures also represent good faith bargaining, a crucial legal standard in many states (see) (see).

PROVIDE EVEN MORE BENEFITS TO THE INJURED INDIVIDUAL

Structures protect funds from needs-based entitlement programs. Since the payments are not assets, Medicaid, AFDC, and SSI will likely be unaffected. They also provide freedom from probate as well as creditors, including those arising from divorce and bankruptcy (see).

Be sure to review the Settlement Checklist for Carrier Home Offices

INCREASE THE SPEED AND EFFICIENCY OF THE STRUCTURED SETTLEMENT PROCESS

We provide SLA with your claims personnel, adjuster checklists and advanced technology for 24/7 interactive, on-the-fly customizable quote estimates. This means fast, efficient, strategic quoting for your claims professionals.

SECURE AUDIT-READY, COMPREHENSIVE COMMAND OF ALL STRUCTURED SETTLEMENT TRANSACTIONS

Chronovo provides all transactions a single data system with comprehensive information about the parties and finances, all accessible at the click of a mouse. Our tech staff provides you with self-service reports, also available on a periodic basis.

PROVIDES SIMPLE, GRAPHIC QUOTES TO CREATE CLARITY FOR THE CLAIMANT AND COUNSEL

Our Chronographs include a visual display of the long-term value and the specific financial path of each proposal. In addition, we display and compare life companies and their ratings/profiles for complete transparency and clarity.

FUELS TIME-SENSITIVE, REAL-TIME NEGOTIATIONS

Estimates are completely interactive and based on real-time life company pricing. You can produce an extremely accurate quote with the click of a mouse. This enables you to fold structures into a real-time negotiation process without waiting for a call or email from the broker.

PROVIDES PERIODIC REPORTS ON ALL STRUCTURED SETTLEMENT ACTIVITY AND DATA POINTS

Chronovo’s interactive dashboard displays all structure activity, pending, status and resolutions. Customized monthly reports are generated with various data and analytics to help target and improve outcomes.

Carrier Home Offices Settlement Checklist

Ask yourself:

Is there a gap between the claimants’ wishes for the amount of the settlement and the value of the claim? Do you have a programmatic approach to ensuring that the claims professional knows/presents structures as an alternative?

Do your claims professionals use our quick, graphic and intuitive platform to show that a structured settlement can be designed to become a college funding plan and/or a retirement plan, as well as circumvent any probate challenges?

Do your claims professionals have a quick, easy way to compare the tax-exempt, cost-free performance of a structured settlement with the risk-based approach of a typical investment plan? Do you know that Chronovo can provide a real-time comparison for your claims professionals in minutes?

If your claims professional knows that the claimant/plaintiff relies on any needs-based benefits like SSI, Medicaid, or AFDC, has he/she clarified to the claimant/plaintiff that a structure does not impact these benefits?

Does the claimant/plaintiff have any possible challenges with creditors from bankruptcy, divorce, or other proceedings? If so, have you told them that the structured settlement will keep these benefits safe from attachment?

If there is a minor involved in the claim or dependent on income from the claim, do the claimant/plaintiff and counsel know that a structured settlement can ensure that the proceeds of the settlement are spent appropriately?