What is a Structured Settlement
Guaranteed Future Payments
A structured settlement is defined as a legal settlement paid out as an annuity rather than in a lump sum, usually with certain tax advantages for the recipient and a savings for the payer.
With a structured settlement, the amount of the payments and the frequency with which they are disbursed will vary case by case as the circumstances that led to the decision to fund through a structured settlement rather than a single lump sum at settlement are unique for each situation.
Who is Involved
The key parties involved in determining the structured settlement amount and payment schedule include:
This is the person who has been wronged and has filed a civil claim, such as a personal injury or wrongful death claim, to seek compensation.
The defendant is the person or entity who is being accused of harming or wronging the plaintiff. If found to be negligent in a civil suit, the defendant must pay damages through their insurance company.
There are multiple insurance companies involved including the defendant's insurance company who will generally facilitate the purchase of an annuity from a highly rated life insurance company.
Sell a Structured Settlement for a Lump Sum
Down the road, if the annuitant with the structured settlement comes upon an urgent need for a lump sum of money, they can work with CrowFly to transfer the rights to future payments in exchange for cash.
The CrowFly Team cannot provide financial advice, but we can tell you what you need to know about selling your future structured settlement payments. Our experts can help you navigate through a complex process of selling structured settlement payments for a lump sum without any stress or pressure. Interested to learn how much your structured settlement is worth to our buyers? Give us a call at 833-CROWFLY to discuss the process, or get a free quote today to help weigh your options.