Structured Settlements 101: Making the Most of Your Settlements

Structured settlements are regularly overlooked as a viable and valuable option for funding a settlement. They are commonly perceived as extremely complicated and the potential benefits are often overshadowed by the temptation of a large lump sum payout. However, in practice, structured settlements are incredibly simple. What is a Structured Settlement? Structured settlements are settlements that use a combination of lump sum cash payments and annuities to fund a total settlement. An annuity is an investment vehicle backed by a life insurance company that offers guaranteed, tax-free, periodic payments. Annuity payments are entirely customizable to a claimant’s needs and financial goals. All aspects of a liability or workers’ compensation settlement can be funded with an annuity, including indemnity, future medical, Medicare Set-Aside arrangements, and even attorney fees. Payments can begin immediately upon settlement or deferred to a later time. In fact, payment…

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