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What
is a Structured Settlement?
A
Structured Settlement is a method of paying damages to a
plaintiff (the injured party) over a period of time when a
lawsuit has been settled. A structured settlement most
commonly results from a personal injury lawsuit involving:
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• |
Product
liability |
| • |
Motor
vehicle collisions |
| • |
Wrongful
death |
| • |
Medical
malpractice |
When the
outcome of a lawsuit results in a settlement, the damages
awarded are funded in the form of an annuity contract issued
by an insurance company. This settlement is structured
as follows:
| • |
A
company (typically an insurance company) is
selected by the defendant to structure the
settlement. |
| • |
The
structured settlement company purchases an annuity
contract and sends payments from the annuity to
the plaintiff. The payments are fixed in
time and amount. |
| • |
The
structured settlement company retains ownership of
the annuity even though the plaintiff is the
beneficiary. |
Plaintiffs
receiving a structured settlement can benefit from the sale
of their stream of payments by receiving a lump-sum of cash.
You can contact us at (636) 458-2612 or
email joyann@lexxfunding.com
to discuss your financial needs.
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