JACKSONVILLE, Florida., May 23, 2022 /PRNewswire/ — Independent Insurance Group, LLC (“Independent Group”) today announced that its life and annuity subsidiary, Independent Life Insurance Company (“Independent Life”), has successfully launched iStructure, the first settlement annuity structured indexed uncapped . Independent Life got close to $50 million in committed sales for proceeds from both settlement collections and installment sales of real estate and businesses.
iStructure has proven effective in helping to improve the lives and needs of our beneficiaries and distribution partners and the date that May 23.
iStructure offers the ability to increase payment amounts with the same flexibility and tax benefits as traditional structured settlements. Already, nearly 60 people have chosen to use iStructure for future recurring payments, with a wide variety of adoptions: minors, adults, attorneys, personal injury cases, taxable settlements, and installment sales. iStructure is now available to all designated agents.
“iStructure has proven effective in helping to improve the lives and needs of our grantees and delivery partners,” said James Atkins, FSA, MAAA, Managing Director of Independent Life. “Our proprietary quoting software, Mosaic, was built from the ground up and produces artwork packages that lead our market in design and capability,” he added.
The annuity will be linked to the Franklin BofA World Index™powered by the quantitative insights of Franklin Templeton and Bank of America, whose objective is to capture long-term growth by systematically investing in a volatility-controlled equity index of companies around the world.
“Our channel partners are extremely excited about iStructure because it’s unlike anything else they can offer their customers,” said Christophe Boua, Senior Vice President Sales for Independent Life. “A fortune 50 companies already use iStructure to resolve complaints and their rep says it’s the product they’ve been waiting for 15 years. We continue to listen to our partners on how to improve an already excellent solution, so expect iStructure to become even more compelling as the product evolves.”
iStructure can be used for a variety of situations, including personal injury cases, structured attorney fees, structured installment sales, and taxable settlements. Benefits for clients include tax-free and tax-advantaged income, the ability to grow income, customizable payment options, market downside protection, and inflation protection.
ABOUT THE INDEPENDENT GROUP
Founded by insurance industry experts, Independent Group is a forward-thinking company whose complementary product and service companies improve outcomes for all structured settlement stakeholders. Independent Life, its underwriting division, offers structured settlement solutions, including annuities, to meet the needs of injured parties, their families and attorneys. With its unique profile and ambitious vision for the structured settlements industry, Independent Life has attracted world-class partners: LKCM Headwater Investments, KKR’s Kilter Finance and Hannover Re UNITED STATES supporting Independent Life’s growth initiatives. To learn more about what makes Independent Life different, visit www.independent.life.
ON FRANKLIN TEMPLETON
Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving customers in more than 165 countries. by Franklin Templeton mission is to help clients achieve better results through expertise in investment management, wealth management and technology solutions. Through its specialist investment managers, the firm brings extensive capabilities in equities, fixed income, multi-asset and alternative solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the Californiabased has over 70 years of investment experience and more $1.5 trillion of assets under management at December 31, 2021. For more information, please visit franklinresources.com.
ABOUT FRANKLIN BoA World Index™
The Franklin BofA World Index™ (the “Index”) was created and is owned by BofA Securities, Inc. and its affiliates (collectively, “BofAS”) based in part on an index licensed to BofAS from Franklin Templeton Companies , LLC (“Franklin”) (collectively with BofAS, the “Licensors”). No product referencing the Index is sponsored, operated, endorsed, sold or promoted by the Licensors. The licensors indicia and related information, licensors name and related trademarks may not be copied, used or distributed without their prior written permission. THE LICENSORS MAKE NO WARRANTIES AND ASSUME NO LIABILITY WITH RESPECT TO THE INDEX, ANY RELATED INFORMATION, TRADEMARKS, OR THE PRODUCT(S) (INCLUDING, BUT NOT LIMITED TO , THEIR QUALITY, ACCURACY, SUITABILITY AND/OR COMPLETENESS).
There are risks associated with the Index referred to herein. Please request a copy of the applicable index rules for risk disclosure.
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SOURCE Independent Insurance Group