This might be of benefit if you expect your income to increase over time.
What is a structured settlement.
Structured settlement brokers a special type of insurance agent consult as a case approaches settlement.
The lump sum settlement is the traditional method for settling a case.
Advantages of a structured settlement.
A structured settlement is a negotiated stream of periodic payments for damages in settlement of a personal injury wrongful death or workers compensation claim or lawsuit.
A structured settlement is often funded with structured settlement annuities customized with tax advantages.
However many legal settlements offer a lump sum payment option which provides a one time sum of money.
A structured settlement pays out money owed from a legal settlement through periodic payments in the form of a financial product known as an annuity.
For more about brokers see national structured settlements trade association.
Structured settlements can also start high and decrease over time.
The key differences between both annuity settlement options are the long term security and.
Payments decrease over time.
You should take a lump sum settlement for all small settlements and most medium sized settlements less than 150 000 or so.