what is selling my structured settlement
- info-world
- Apr 5, 2015
- 1 min read
tructured settlements are typically issued to individuals who have suffered harm as a result of a personal injury.
In some cases where the victim is owed money from another party as a result of a personal injury, the federal government encourages these victims and their families to utilize structured settlements issued by the insurance company who insured the party at fault. For example, if you were injured in a car accident, you may receive a structured settlement from the insurance company that covered the driver responsible for the accident.
Some of the lawsuits that can result in a structured settlement
The structured settlement annuity is offered by the insurance company who insured the party responsible for the injury as a way to compensate the personal injury claim victim without paying a lump sum of cash up-front.
Sometimes a structured settlement annuity is better for the victim at the time of their accident, but often the victim’s circumstances change and they may need a lump sum today
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The recipient of a structured settlement annuity will receive these periodic payments tax free from the insurance company.
Structured settlements benefit the personal injury victim by insuring they receive a steady stream of future income, which is particularly important for minors or victims who have had life altering injuries and may be unable to earn income over their lifetime.
