Structured Settlements for Dummies

Cash for annuity

If you’ve been injured on the job, you probably qualified for and received a structured settlement. Structured settlement cash is used mostly in product liability or injury cases, and more than a third of personal injury claims are settled with a structured settlement agreement.

Structured settlements are usually beneficial for both the defendant and the claimant. For the claimant, it gives you a steady income paid out over time (usually the rest of your life). You can also opt for a structured settlement lump sum, but that would not give you a steady stream of income.

For the defendants and their liability insurers, they can save between 10% and 30% by settling a case with a structured settlement. Out of 1,750 commercial liability bodily injury claims, nearly 12% ended with this type of financial agreement.

But what if you want structured settlement cash immediately?

You have a few options. You can sell your entire settlement for a structured settlement lump sum, or you could sell a couple year’s worth of the settlement while still receiving structured settlement cash each month.

Selling to structured settlement funding companies is a good choice if you have a firm investment strategy that will allow you to actually make more money off of the lump sum to will receive upon selling. These companies will be very open to any questions you may have about the selling process

For instance, why get cash for structured settlement payments? Selling your structured settlement can be a wise decision if you need cash immediately. Say, for instance, you need to pay off some debt, or you are investing a lot of money in stocks, or you plan on undergoing a major home renovation.

If you decide to sell your settlement earlier rather than later, you can often make more money overall than you would make while waiting for the structured settlement cash to arrive every month.

To sell a structured settlement, you will first need to find an interested buyer — which isn’t very hard if you know where to look. The first place to look would be online. There are plenty of eager buyers out there, but you should be looking for ones who will provide the terms that they promise and actually plan on following through with the deal.

Talking to your attorney can be another useful asset. They were the ones who negotiated your settlement in the first place and therefore should be very useful when it comes to finding a buyer for you. They will also be able to give you an honest opinion about whether you should be selling or not. For example, if they think you can cover your medical expenses without a settlement, then they may give you the green light.

Once you’ve found a buyer, make sure to get a quote for the price of your settlement in writing so that you have documented proof just in case they back out or don’t honor the deal. You should receive your lump sum within a few days after all the paperwork is complete

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