What Does a Structured Settlement Broker Do?
A structured settlement broker, also known as an annuity broker, is a professional specifically trained in negotiating and facilitating a payout schedule for a monetary settlement that has been awarded to an individual or family as the result of a lawsuit. Usually, the lawsuit stems from an injury due to negligence on the part of the defendant and a compensation amount is agreed upon by both parties to settle the case without resorting to a jury trial. There are several benefits to the injured party when exercising this option, most notably the reduction of legal fees associated with being represented by an attorney if the case had gone to trial. In addition, a structured settlement ensures a steady stream of supplemental income over a period of years, often lasting the course of a lifetime.
