Depending on which funding company you use, the Funding of proceeds to the customer can take place either after the court order is received or after the Annuity Owner and Issuer approve of the changes to the Annuity Policy. If the funds are dispersed after the court order is obtained, the dispersal is usually 5 to 7 business days after receipt of the court order.
If the funds are dispersed after the Insurance Company Acknowledges the assignment, the funding can be anywhere from 30 to 45 days after receipt of the court order.
Individuals awarded future payments through litigation derived from personal injury misfortune have sold the right to receive these payments for years. The industry that grew up around this consumer need operated without regulation until January 2002 when the U.S. Congress stepped in and legitimized the process, demanding that the practice be approved by a judge following scrutiny of the transaction.
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