The Promise In Each Structured Settlement
Encouraged by the U.S. Congress since 1983, structured settlements serve as an alternative to lump sum settlements by providing a secure, long-term stream of income tax-free payments tailored to meet the future needs of policyholders and payees.
While these payments are often paid over many years and perhaps even for a lifetime, the premiums for the annuities funding the payments are paid at the time of settlement.
Parties to a structured settlement therefore receive a promise: a promise that the company responsible for their future payments will be there, strong and solvent, decades from now to pay its long-term obligations.
As a result, New York Life's management team has one overriding objective: to manage for the long term by ensuring that the right decisions are made today, so that New York Life can continue to meet its obligations tomorrow and far into the future.