MetLife is now offering non-qualified structured settlements from its U.S.-based Metropolitan Tower Life Insurance Company (Met Tower Life). These non-qualified structures are for non-physical injury settlements that fall outside the tax-free physical injury claims definition outlined by IRS tax code. These taxable settlements often involve employment litigation, punitive damages, contract disputes and construction defect claims.
While the guaranteed payments from non-qualified structured settlements are taxable, they give clients a financial planning mechanism that offers significant benefits.
- The ability to spread income over the duration of the annuity–by doing so, clients can often reduce their yearly income tax obligation.
- Generate a guaranteed income stream for the life of the annuity regardless of the inevitable ups and downs of the financial markets.
MetLife has produced a quick video on non-qualified structured settlements. Take a look at this link.
Feel free to call anytime with structured settlement questions