A liability insurance claim gets initiated after most accidents. So the insurance company will pay out a sum of money to the innocent claimant.
When the injured person has medical bills and other immediate needs for a significant amount of money, the structured settlement may not be workable.
Of special interest, there will be some financial loss on the part of the claimant. But they will have a full settlement instead of drawn out and dividend payments. And this can be an attractive advantage for some injury victims who need cash now. Structured settlement laws vary from state to state.
Is the Lump Sum Fair?
The critical issue is whether or not the third-party buyer is offering a fair value. So the structured settlement recipient should consult a personal injury legal professional. But they need one experienced in contract law.
Information necessary for a third party buyer structured settlement includes:
Southern California residents may consult Ehline Law Firm when considering a third-party structured settlement lump sum. You can reach our law firm at (213) 596-9642. Calling may help determine if the lump sum agreement is in your best interest.
Hindert, Daniel (1986). Structured Settlements and Periodic Payment Judgements. New York, NY: Law Journal Press. pp. 1–36. ISBN 1-58852-037-4.
“What a Life Contingent Payment Is” – https://einsteinstructuredsettlements.com/what-a-life-contingent-payment-is.html
“The Smart Way to Pay Off Debt” – https://www.oprah.com/money/Advice-for-Cashing-Out-a-Structured-Settlement-Suze-Orman-Financial
“Success of JG Wentworth Get Cash Now Campaign” –https://video.foxbusiness.com/v/2838693615001/jg-wentworth-ceo-on-success-of-the-get-cash-now-campaign/#sp=show-clips