What is a Structured Settlement
A Structured Settlement is an agreement between a personal injury victim ( a Plaintiff ) and an Insurance company ( the Defendant )to compensate the Plaintiff by the defendant with long term periodicpayments instead of a single cash lump sum.
Payments can be tailored to each individual plaintiffs needs, to help meet expenses such as on-going medical and living expenses, education, children needs & support etc' The fixed annuity payments are tax-free to the claimant, a cost-of-living adjustment (COLA) feature is available, that can help offset the effects of inflation over time, payments can continue as long as the claimant lives thus providing him the maximum benefits.
Structured settlements are encouraged by plaintiffs lawyers, Courts, Insurance companies and the legislators alike as they all agree it is the best solution to all parties involved especially for the claimant.
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The annuity can be transformed in part or in full to a cash lump sum via private funds and should be approved by the Court. The funds are most interested to make these deals as they are very profitable to them because they take the long term tax free payments and in exchange pay the annuity holder much less than the face value but in cash.
These same funds are handling Lottery winners long term payments into one single lump sum as well as all kinds services of cash against future payments.
MBA - International Trade & Finance - Heriot-Watt University. Bsc. Computers and Information Systems - Long Island University - C.W Post Campus. Married with two Children.
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Structured Settlement as an Investment Vehicle
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Structured Settlements - Should You Sell Yours?
In recent years, it has become more common for victims of accidental injury who accept a settlement from the at-fault party to accept a structured settlement instead of a lump-sum payment. With a structured settlement, the injured party receives payments over an agreed-upon length of time - five years, ten years, or even a lifetime, rather than receiving payment up front in a lump sum.
Unstructured Settlement
Me'Lisa Delaney, 43, is brain-injured as a result of a 1984 medical error that caused a stroke during surgery. The hospital agreed to settle via a structured settlement, as overseen by a county conservatorship.
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Options for Lawsuit Settlement Winners Receiving Periodic Payments
On January 22,2002, President George W. Bush signed into law a bill that protects individuals who must sell their structured settlement payments to meet unplanned financial needs.
Structured Settlements Offer Advantages over Lump-Sum Payments
A structured settlement, which offers injury victims cash payments through a long-term annuity as compensation for their damages and medical expenses, offer a number of possible advantages over payment in a lump sum. While the lump sum payment is the traditional way for responsible parties to pay accident claims, the structured settlement offers payments over the span of an agreed-upon period of time.
A Structured Lawsuit Settlement Seemed Like a Good Idea at One Time
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Annuity Transfer - What Are the Risks
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Cash For Structured Settlements - The Smart Way
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Should You Sell Your Structured Settlement?
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What is Structured Settlement?
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