Alford

INTRODUCTION

Objectors and appellants State Farm Fire and Casualty Company (State Farm Fire) and State Farm Life Insurance Company (State Farm Life) (collectively, State Farm) appeal from the trial court’s approval of an order directing the transfer of structured settlement payments to plaintiff and respondent RSL Funding, LLC (RSL).

FACTS AND PROCEDURAL BACKGROUND

In 1994, defendant Felicia Alford, then a minor, by her guardians, settled a personal injury claim against certain insureds of defendant State Farm Fire. The settlement was approved by a court order that provided, “for the best interest of the minor ... the proceeds of such settlement be paid and used in the manner hereinafter specifically provided.” Under the settlement, the payor, State Farm Life, was to deliver an annuity providing for guaranteed payments, as follows: (1) $10,000 annually from August 11, 2003, through August 11, 2006; (2) $50,000 on August 11, 2009; (3) $100,000 on August 11, 2016; and (4) $151,558.80 on August 11, 2021. State Farm Fire purchased an annuity contract from State Farm Life, which provides for the periodic payments to be made.

In July 2012, Alford entered into a contract…