Structured Settlements Definition

For 30 years prudential has been a leader in providing financial certainty through structured settlements for financial certainty. Unfortunately that means its easy for scammers to find people to prey on.

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A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule rather than as a lump sumas part of the negotiations a structured settlement may be offered by the defendant or requested by the plaintiff.

Structured settlements annuities. In this case the at fault party puts the money toward an annuity which is a financial product that guarantees regular payments over time from an insurance company. Around one third of injured persons choose this option over a cash lump sum according to the national structured settlements trade association. With a structured settlement a defendants insurer typically funds an annuity policy for the plaintiff. Here are some things to watch out for as you sell your structured settlement or annuity. Structured settlements are complicated and the industry isnt very transparent. An annuity produces a continuous stream of income over the term of the structured settlement. If i need to make another sale of my settlement in the future i would not take my business anywhere else. A structured settlement annuity ssa provides tax free periodic payments over a period of time specifically designed to meet an injured partys needs. For larger sums however a structured settlement annuity may be arranged. One simple way to avoid scams is to do a little research before calling. I have done multiple sales and have always appreciated the honesty and good will towards my needs during a sale. The income tax free periodic payments made under these annuities provide for future medical expenses and basic living needs and can last for the lifetime of the injury victim and their family. Annuity contracts can be quite complex to cover a variety of expected expenses. If the amount of money is small enough the wronged party may have the option to receive a lump sum settlement. Specialized consultants facilitate the settlement process as well as help design and negotiate the structure.

When an annuity is chosen as a settlement a structured settlement broker helps analyze the employees needs to determine how the periodic payments should be made. When used properly they can be a very effective tool for protecting a settling plaintiffs long term financial security. American general insurers are market leaders in providing structured settlement annuities to victims of personal physical injury or physical sickness. Structured settlement annuities are designed to offer the benefits of a structured settlement while reducing or eliminating the potential drawbacks.

Structured Settlement Annuity Structures Settlement