MetLife’s Non-Qualified Flex Agreement (NQA-FA) is now available. First announced in April, this settlement option uses a funding agreement instead of a traditional annuity–giving non-injury claimants the ability to defer payments longer than the IRS Code’s one-year maximum.
Besides a more attractive deferred payment start date, a NQA-FA also provides:
- Greater flexibility on when lump sum benefits are paid,
- Annual payment increases
- Customized payment schedules based on the claimant’s needs.
As with MetLife’s other settlement products, payment obligations under an NQA-FA are transferred to MetLife’s Assignment Company, with payments taxable once received by the claimant.
These products are gaining traction in cases involving employment litigation, contract disputes, construction defects, property and environmental claims, punitive damages and other non-injury matters. More claimants want guaranteed income over long periods–without giving up the flexibility to manage payments and tax obligations.
Please feel free to contact us to discuss the variety of structured settlement options available in the marketplace.
Nick Schuetze & Pat Farber
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