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Structure Brokers Affidavit Form. This is a New York form and can be use in Bronx Local County.
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Tags: Structure Brokers Affidavit, New York Local County, Bronx
STRUCTURE BROKER'S AFFIDAVIT
(NAME OF COURT)
---------------------------------------------------------------x
(CASE CAPTION)
___________________________________an infant,
by his/her Parent and Natural Guardian
___________________; and ___________________,
individually,
Docket No. ___________________
Plaintiffs,
-against-
STRUCTURE BROKER’S AFFIDAVIT
Defendants.
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UNDER THE PENALTIES FOR PERJURY, I ____________________________,of
__________________________________, acting as structured settlement consultant in the
above matter hereby warrant and represent, under oath, having first been duly sworn, the
following facts to be true, complete and accurate to the best of my knowledge, information and
belief:
1. No rebates, service fees, administrative fees, or other financial consideration of any
kind or in any amount has been paid, will be paid or had been promised to be paid
to any party, insurer, attorney, guardian or any other person, firm or corporation
associated with this case by me or by my above stated company either directly or
indirectly, by virtue of the structured settlement or otherwise, relating to this matter.
2. The cost to the defendant(s) and/or casualty insurer(s) of the structured settlement
portion of the settlement in this case is $ _____________ inclusive of any
applicable qualified assignment fee; and this cost to purchase the proposed annuity,
was arrived at after a survey of the market of annuity providers in order to confirm
and obtain the best value (price/quality) for the periodic payment plan now
recommended.
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3.
(Name of Defendant or Insurer)
payments to (Name of Annuitant):
will make the following future periodic
[Provide full benefit payment schedule]
4.
The obligation of (Name of Defendant or Insurer) to make the above future periodic
payments will be assigned to _________________________, the Assignee.
(Assignee)
may fund the obligation assumed by the purchase of an annuity from
(Insert name of annuity issuer)
_________________________, an A.M. Best Company rated A+ or A++ insurer. A
guarantee letter will be issued by (Insert name of guarantor)
to guarantee the
performance of said assignee.
5.
The Annuity Issuer company above named, is licensed to issue insurance and
annuity products in the State of New York.
6.
The standard industry commission that we are receiving in this case is based on 4% of the
(Insert name of annuity issuer)
premium of $__________. This commission is paid by _________________________,
the life insurer issuing the annuity policy.
[If more than one broker is sharing in the commission, set forth the details
supporting same].
7.
8.
The annuity being provided in this case is based upon guaranteed non-life contingent
payments for the plaintiff, who is presently ______ years of age, having been born on
___________________. The annuity cost set forth in number two above reflects this nonlife contingent annuity cost;
[Or]
The life insurer(s) providing the annuity or annuities in this case has rated the plaintiff,
who is presently ____ years of age, having been born on _________________, up to age
______ by reason of plaintiff’s medical condition. The annuity cost set forth in number
two above reflects this rated age with regard to all life contingent annuity benefit
payments Period certain only payments and guaranteed lump sum payments are not
affected by rated age;
[Or]
By reason of said plaintiff’s non life impairing medical condition, the annuity being
provided in this case is based upon a standard age quote for the plaintiff, who is
presently years of age _________ having been born on ______________. The annuity
cost set forth in number two above reflects this standard age rating. Period certain only
payments and guaranteed lump sum payments are not affected by a rated age.
Medical underwriting is inapplicable in guaranteed non-life contingent cases;
[Or]
No medical underwriting has taken place or will take place after the agreement to
settle hasbeen reached without full disclosure to both plaintiff and defendant. No
post settlement medical underwriting has or will take place to secretly reduce the
defendant's cost.
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9. No present value calculations were provided in this case. All illustrations
provided were based on actual cost only.
10. Neither I nor [company name]
is an in-house broker of any party or
casualty carrier involved in the settlement; nor am I or said company affiliated with or
an “exclusive” broker of any of any party or casualty carrier involved in the settlement.
_ without the express consent of the
11. Neither I nor [company name]
will, ___________________________
plaintiff and the prior written approval of this court:
_________________________________________
(a) provide any information about this settlement to any factoring
company for any purpose; or
(b) solicit the plaintiff or plaintiff's family on behalf of any
factoring company for any purpose, including, but not limited
to, the proposed sale of plaintiff's future periodic payments, nor
will I or
participate, assist, promote or
aid in such solicitation by any person, firm, corporation or entity; or
(c) seek or accept any consideration, financial or otherwise, directly or
indirectly _____________________
from a factoring company.
12. The following documents have been annexed as exhibits to the application made
to the court for approval of the recommended settlement proposal:
Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E
-
Proposed Settlement Agreement
Proposed Assignment Agreement
Proposed Annuity Contract
Proposed Guaranty Agreement
Rejected Alternative and/or Competing Proposals.
THIS STRUCTURED SETTLEMENT AFFIDAVIT IS PROVIDED TO THE PARTIES TO
THE SETTLEMENT WITHOUT COST AND WITH THE EXPRESS PURPOSE OF
INDUCING THE PLAINTIFF(S), THE DEFENDANT(S), AND ALL PARTICIPATING
INSURERS TO ENTER INTO AND/OR PARTICIPATE IN FUNDING THE
STRUCTURED SETTLEMENT AGREED UPON IN THIS CASE. STATEMENTS SET
FORTH HEREIN CONSTITUTE AFFIRMATIVE REPRESENTATIONS AND
WARRANTIES BY THE UNDERSIGNED STRUCTURED SETTLEMENT
CONSULTANT.
____________________________________
individually
(Insert name of individual)
and on behalf of [company name]
Sworn on before me
this ___________day of __________, 20__
Notary
My Commission Expires:
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