Non-Qualified Structured Settlements

What is a non-qualified structured settlement?

Any dispute or claim that is not eligible for an income tax-free qualified assignment per Internal Revenue Code Section 130 can benefit from tax deferral through a non-qualified assignment. Like qualified assignments, non-qualified assignments enable two disputing parties to settle for future periodic payments with the obligation to make future payments being transferred to a responsible assignee and allowing the payer to write a single, up-front check and be released from future obligation.  Compared to receiving a lump sum now, the payee gets the payments in a more tax-efficient manner as the money is distributed over time. 

How is Independent Life able to offer this option?

As an annuity provider, Independent Life leverages the strength and market recognition of two non-domestic assignment companies, Structured Assignments (SAI) of Barbados and Kenmare Assignment Company Limited (Kenmare) of Ireland. By utilizing an offshore assignment company, Independent Life can offer fully customizable payout patterns of fixed and guaranteed payments to settlement planners and their claimants including deferred, lump sum, fixed period or lifetime payments. Independent Life also offers locked in pricing for provided quotes.

What type of cases are eligible for a non-qualified assignment?

  • Employment disputes
    • Wrongful termination
    • Sexual harassment
    • Discrimination
    • Psychological/emotional harassment
  • Divorce
  • Attorney fees
  • Wrongful incarceration
  • Punitive damages

How can I request a quote?

A quoting software update will soon be released to our distribution partners, but in the meantime, please call 1.800.793.0848 or email quotes@independent.life.

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