A dependent settlement is a negotiated monetary association where a person, who receives a agreement related to a employee's compensation or personal injury declare, concurs to receive tax-loose periodic bills on an agreed agenda, in preference to as an immediate lump sum. The obligation to make those future payments as negotiated in the non-public injury agreement is taken on by using an mission agency and funded by a certified coverage corporation. Frequently, the events seek established settlements because claimants are deemed incapable of coping with their price range independently or are too young or as it gives assured, attractive blessings they can not in shape on their own.
Independent Life Assignment Company will serve a nationwide market soliciting assignment of agreement liabilities from settling parties and purchase investment annuities from Independent Life Insurance Company, its newly released sister company.
Independent Life Assignment Company, Independent Life Insurance Company and their conserving organization, Independent Insurance Group, had been shaped as a collaboration between control and LKCM Headwater Investments ("LKCM Headwater"), the non-public investment arm of Luther King Capital Management, a Fort Worth based funding firm based in 1979 with approximately $15 billion in property under management for high internet worth individuals, institutional clients, personal funding partnerships and mutual finances.
"We spent significant time and effort designing and growing those agencies with precious input from industry leaders," said James D. Atkins, CEO of Independent Life Insurance Company. "We accept as true with Independent's singular consciousness on annuities to fund structured settlements will bring about first-rate carrier and broking help, as well as higher tier pricing, to enhance and help develop the industry."
In addition to Atkins, the Independent Life management group includes Donald J. Herrema, Vice Chairman and Chief Investment Officer, and J. Todd Hagely, Chief Financial Officer. Atkins is likewise President of Independent Life Assignment Company with Daniel P. Durbin, Vice President of Marketing and Sales, Patrick J. Hindert, Vice President of Business Development and Christopher M. Bua, Vice President of Internal Sales.
Independent's chance profile is dramatically one-of-a-kind from all previous annuity providers investment based settlements due to the fact it's far a unmarried motive insurer without the entanglements of unrelated product lines that have challenged some different carriers. Additionally, it does no longer have any historic structured settlement annuities with pricing out of alignment with state-of-the-art funding surroundings.
Independent Life became founded via Independent Insurance Group's Chairman of the Board Michael A. Upchurch. "LKCM Headwater and Michael found out that there was a vital and developing need for dependent settlement answers for critically injured individuals with a view to allow them to better manage their lives," stated Atkins. "We took his imaginative and prescient and will move it ahead by means of being a organisation that can assist provide those solutions, so the ones people can attain the ones goals."