Who benefits from a structured settlement?
In most cases, all parties involved in the settlement of personal injury and damage claims will benefit from the use of the structured settlement process. • The claimant benefits by securing a guaranteed, tax-free stream of income payments over a specific period of time, or over a lifetime. The claimant is free of money management worries and the potential for loss or dissipation of the funds by unscrupulous advisors and well-meaning, but inexperienced, relatives and friends. The purpose and integrity of personal injury damage awards are maintained and conserved for whom it was intended, the injured party. • Advantages to the defendant: • More economical settlements • Faster case resolution • Lower litigation expenses • Assignment of liability to a third party • The defendant (liability insurer, self-insured or a governmental agency) benefits by a faster, more efficient resolution of pending claim files and an awareness of the satisfaction derived by meeting a moral and ethical obligat
Structured settlement payments can be arranged in a multitude of circumstances, including debt settlements and employees’ compensation. However, the most common of circumstances for a structured settlement payment is in a personal injury case. With a substantial compensation claim, large amounts of cash can change hands. In those circumstances, the individual receiving the cash may not be used to handling large sums of money, sensibly. A structured settlement payment will enable individuals who feel incapable of dealing with the large sum of the money they are receiving, to accept their compensation, in a controlled and efficient manner. With many substantial personal injury claims the losses are ongoing and may have a life-long effect. By creating a tailor-made structured settlement payment, an individual can ensure that they are catered for in a way that is effective for their INDIVIDUAL needs. What is the Process of Obtaining a Structured Settlement Payment? A structured settlement
