A funding agreement is a financial vehicle sold by life insurance companies that is used to fund periodic payments on non-physical injury claims such as:

  •  ENVIRONMENTAL CLAIMS

  •  TOXIC TORTS

  •  PROPERTY LOSS

  •  PROPERTY ACQUISITION

  •  CONDEMNATION PROCEEDINGS

It is not an annuity policy as there is no "measured life". However, it serves the same purpose that an annuity does in providing periodic payments at a set time for a specified amount in settlement of non-injury damage claims. As defined in the insurance code:  "a funding agreement shall mean an agreement which authorizes an admitted life insurer to accept funds and to provide for an accumulation of those funds for the purpose of making one (1) or more payments at future dates in amounts that are not based on mortality or morbidity contingencies." While such payments are not transferable by "Qualified Assignment" at this time, there are times when deferred compensation agreements can be beneficial to both plaintiffs and defendants on this category of cases. The following Delta Group carriers provide this product:

 
COMPANY Comments
   
available in all states except WA, PA, and HI
   
available for environmental cases only
   
available for environmental cases at this time
   
available

For more information on these carriers contact your local Delta Representative.