Why are structures important?
An American life insurance industry study found that after receiving a large sum of money from a lump-sum settlement or judgment, a lottery windfall, or an inheritance, 25% of recipients had nothing left within two months. At the end of one year 50% had nothing left. After two years 70% had nothing left; and, within 5 years 90% had nothing left. (R.Somers, The Structured Settlement A Better Way, The Journal of Insurance, March/April 1979).Fiscal imprudence is human nature. It’s hard to control spending.Injured victims who receive large lump sum awards need the money for good reason. Structures were created to prevent accident victims from becoming victims again by squandering their lump sums and becoming a burden on family or society.
An American life insurance industry study found that after receiving a large sum of money from a lump-sum settlement or judgment, a lottery windfall, or an inheritance, 25% of recipients had nothing left within two months. At the end of one year 50% had nothing left. After two years 70% had nothing left; and, within 5 years 90% had nothing left. (R.Somers, The Structured Settlement A Better Way, The Journal of Insurance, March/April 1979). Fiscal imprudence is human nature. It’s hard to control spending. Injured victims who receive large lump sum awards need the money for good reason. Structures were created to prevent accident victims from becoming victims again by squandering their lump sums and becoming a burden on family or society.
