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The 2017 Revisions to the Life  & Health Guaranty Associations Model Act (#520), now adopted by 80% of US states, closes a loophole that supports a false narrative that factored structured settlements are insurance products and thus may be eligible for statutory protection in the event of the liquidation of the underlying insurer. 

An Express Exclusion From Coverage for Acquired Structured Settlement Payment Rights

The 2017 Revisons to the Life & Health Guaranty Associations Model Act expressly exclude acquired structured settlement payment rights and gives no solace to those who invested in such instruments prior to their adoption of the Model Act. They are shafted in an insolvency because the Model clarifies that here is no coverage regardless of when the structured settlement payment rights were acquired, even if the acquistion was prior to the date the Model Act Revision was adopted in the state.

So if you are receiving payments from a structured settlement, which represent (1) damages for which you are being compensated for your personal physical injury or physical sickness or workers compensation; or (2) you are receiving such payments as a beneficiary of someone who died who was receiving payments which represent damages, for which they were being compensated for workers compoensation, physical injury or physical sickness