The Definition of a Structured Settlement Structured settlements originated in Canada during the first part of the 70’s. The concept soon took hold in the U.S. and the world, including most parts of Europe. Usually, a structured settlement is the result of a bodily injury claim, where a third party or a surviving member of an individual’s family is awarded a settlement. The recipient receives the settlement package in regular payments, either for an established [...]
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Cashing in a Structured Settlement or Annuity Many companies nowadays offer structured settlement recipients the chance to cash in their structured settlement, lottery winnings, or annuity. In many instances, a person who makes this financial decision has fallen into circumstances where he is in need of the cash. For those individuals who do not necessarily need a large cash payout though, it may be more prudent to receive your settlement or annuity amount in particular [...]
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A Source of Income A structured settlement is usually paid by an insurance company, and is compensation awarded to an accident victim. The annuity is made in payments over time. Therefore, a structured settlement is designed to provide continual income for someone who has been injured and cannot work so they can pay their debts. Payments in a structured settlement are generally made on a quarterly or monthly basis, and may last up to thirty [...]
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Definition Structured settlements are payments made by insurers to victims of accidents. They are designed to provide a source of income to anyone who is not able to work because of his injury and therefore needs some sort of income in order to pay his obligations. People who receive structured settlements usually receive them monthly or quarterly. Workers’ Compensation Specifically, structured settlements are usually used in situations, such as workers’ compensation cases, where the victim [...]
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