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Structured settlement agreements (SSA) are a smart way to settle your injury case, providing you with regularly scheduled tax-free payments that are tailored to your specific needs.1 Structured settlements offer a number of benefits that can help secure your financial future:
There may come a time where you seek more immediate cash and look into a process called factoring. If you choose to factor, you would sell future income from your structured settlement annuity for instant access to some or all of your payments.
Before making any major changes to your structured settlement, however, it’s important to learn all the facts about factoring.
What is factoring and how does it work?
Factoring is when an annuitant sells the rights for some or all of their future annuity payments from a structured settlement for immediate cash from a third-party company, usually referred to as a factoring company.
Factoring companies offer a relatively modest amount of cash to the annuitant (i.e., the recipient of the structured settlement) and then turnaround and sell your future payments to investors at a profit. You (the seller) give up a considerable amount of your settlement, while the buyer enjoys its full value.
Here are a few crucial points to consider before making changes to your annuity.
Structured settlements play a very important role—providing you, the injured party, with financial stability and up to a lifetime of steady income you can rely on from a company you know and trust. As our customer, you have access to online resources to help you manage your annuity. We are here to help and make sure you continue to have the financial protection you need.
For more information, visit metlife.com/settlement-protection or call our Customer Solutions team at 1-800-638-2704, Monday–Friday 8:00 am–9:00 pm Eastern Time.
1. Any discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation. MetLife, its agents
and representatives may not give legal, tax or accounting advice and this document should not be construed as such. You should confer with your
qualified legal, tax and accounting advisors as appropriate.
2. All guarantees are subject to the financial strength and claims paying ability of the issuing MetLife company.