You have a structured settlement and you have decided that you want to sell your structured settlement and get a lump sum payment. There could be many reasons for the cash needs. The needs could range from buying a house to having a medical expense that was not anticipated. Whatever the reason, you need to have a lump sum of cash!
So how do you decide where you should go to so that you can sell your structured insurance settlement and get a fair deal with it? What criteria will you use to evaluate the company?
Here are a few suggestions you want to consider in making your decision.
Talk to friends and family - One of the first and foremost things you should do is talk to people you trust and who have gone through the same type of thing. Because these are people that are close to you, they usually will have your best interest in mind.
Search online - If you don't know of anyone who has gotten a structured insurance settlement and sold it, then you can do some research online about that structured insurance settlement company. You may be able to find people who have gone there and gave a review of their experience with the company.
The important thing is to do your homework and not rush to make a decision. Selling your structured insurance settlement is a big step and you want to get the best offer for your settlement. When you are well informed, you will be able to make the best decision that will be right for you. Do not be afraid to get second opinions and to look around to see what is available.
Questions To Ask Structured Settlement Company
As you are going through the process of evaluating companies, there are some key questions you want to make sure you ask. Getting the answers to these questions will help you in your decision making process. These questions will help you to make certain that the company you are selling your settlement to will do what is best in your interests.
1. What is the length of time the company has been in the business of purchasing structured insurance settlements?
2. Are you able to verify their business and contact information?
3. Do they have proof that they are insured and bonded?
4. What is their rating with the Better Business Bureau?
5. How will they be taking care of your particular kind of structured insurance settlement?
6. What is the number of structured settlements that they purchase annually?
7. What is their rate structure? What are their fees?
8. What is the company's time frame for completing the transaction?
9. Is the structured settlement company operates as a broker or "go between" or are they the actual purchase of the settlement?
10. Will they keep your information private?
Something that you want to do before you make a decision on selling your structured settlement is to consult with a lawyer, or someone else that is professional and knowledgeable about financial decisions.
Kamis, 30 November 2017
Rabu, 08 November 2017
Structured Settlements - Questioning Your Cash Options
The smart decisions we make are triumphs of judgments, while the bad decisions is an opportunity to learn. When it comes to structured settlements you may be questioning your cash options. If you have come into a lot of money, it would be beneficial for you to ask around about a structured settlement to consider for your future care and needs.
One option that may be presented to you by a financial adviser is to propose paying in recommended payments over a time, rather than one fixed sum after a plaintiff settles a case for a large sum of money. These payments can last over a period of time or extend through the claimants lifetime.
These well deserved, much-needed payments can change depending on the claimants needs which can include an immediate payment in order to cover for inevitable damages. Structured settlements are usually made through purchases from an annuity from a life insurance company.
A valuable advantage is tax deferment. If set up in an appropriate manner, it can greatly reduce a plaintiff's tax obligations. An added benefit of structured settlements is that you can assure yourself provided funds for future care and needs.
A disadvantage is that they are a fixed structure. It may not be to your best interests to settle in on this option of payment. You might want to start a new business or buy a new home, but you lack the assets. This keeps you in an avoidable situation until the next payments arrive.
Also, structured settlements do not work smoothly with investments. A lot of typical investments give long-term return than with annuities provided by the structured settlement system. In this case, you would be better off opting for a lump sum settlement.
Learn the availability of benefits that structured settlements can give you that best suit your needs. Ask all the questions to find out what is your best option. After all, one of the most important questions may be the one you are not asking. You can find out if a cash option for a structured settlement is best for you by seeking professional advice.
Information is a source of learning, but unless it is organized, processed, and available to the right people for decision making, it is more a burden than a benefit. There are decisions to be made if you have been a victim as a result of a wrongful injury. As a result of your injury, you may be awarded a settlement. If this is the case, and you still have questions regarding your award then you should obtain more information.
What is a structured settlement? They are set up when an insurance company or advisor offers you a cash settlement out of court in exchange for dropping the suit you have brought against their defendant. Through the settlement you would receive periodic instead of one lump sum.
Where does the funds from the settlement originate? The defendant in the case purchases an insurance annuity which is basically an investment with the insurance company. The idea behind this investment is that it will grow providing them with the funds they need to meet your financial obligations.
Are there any restrictions placed on structured settlements? There could be, it depends on the type of your contract. For example, if the law suit was on behalf of an injured child, the company may insist the funds only be used to toward the child's education. Or if the law suit was on behalf of an employee, the funds can only be exhausted on further required medical supplies or therapy.
Is there any way to terminate the structured settlement? It depends. Your original settlement agreement will have a termination date, when it has been paid. Or you can approach a structured settlement agency to purchase the annuities. The agency will take a share of the annuity and you will get the remaining funds. This allows you to also change to a lump sum if it better suits your needs.
A professional adviser is available for all your structured settlements questions and concerns. They can assist you in determining what is best for your situation. The information you obtain can help you in finding the best answers for your deciding on a structured settlement. The right answers can help you see the potential.
One option that may be presented to you by a financial adviser is to propose paying in recommended payments over a time, rather than one fixed sum after a plaintiff settles a case for a large sum of money. These payments can last over a period of time or extend through the claimants lifetime.
These well deserved, much-needed payments can change depending on the claimants needs which can include an immediate payment in order to cover for inevitable damages. Structured settlements are usually made through purchases from an annuity from a life insurance company.
A valuable advantage is tax deferment. If set up in an appropriate manner, it can greatly reduce a plaintiff's tax obligations. An added benefit of structured settlements is that you can assure yourself provided funds for future care and needs.
A disadvantage is that they are a fixed structure. It may not be to your best interests to settle in on this option of payment. You might want to start a new business or buy a new home, but you lack the assets. This keeps you in an avoidable situation until the next payments arrive.
Also, structured settlements do not work smoothly with investments. A lot of typical investments give long-term return than with annuities provided by the structured settlement system. In this case, you would be better off opting for a lump sum settlement.
Learn the availability of benefits that structured settlements can give you that best suit your needs. Ask all the questions to find out what is your best option. After all, one of the most important questions may be the one you are not asking. You can find out if a cash option for a structured settlement is best for you by seeking professional advice.
Information is a source of learning, but unless it is organized, processed, and available to the right people for decision making, it is more a burden than a benefit. There are decisions to be made if you have been a victim as a result of a wrongful injury. As a result of your injury, you may be awarded a settlement. If this is the case, and you still have questions regarding your award then you should obtain more information.
What is a structured settlement? They are set up when an insurance company or advisor offers you a cash settlement out of court in exchange for dropping the suit you have brought against their defendant. Through the settlement you would receive periodic instead of one lump sum.
Where does the funds from the settlement originate? The defendant in the case purchases an insurance annuity which is basically an investment with the insurance company. The idea behind this investment is that it will grow providing them with the funds they need to meet your financial obligations.
Are there any restrictions placed on structured settlements? There could be, it depends on the type of your contract. For example, if the law suit was on behalf of an injured child, the company may insist the funds only be used to toward the child's education. Or if the law suit was on behalf of an employee, the funds can only be exhausted on further required medical supplies or therapy.
Is there any way to terminate the structured settlement? It depends. Your original settlement agreement will have a termination date, when it has been paid. Or you can approach a structured settlement agency to purchase the annuities. The agency will take a share of the annuity and you will get the remaining funds. This allows you to also change to a lump sum if it better suits your needs.
A professional adviser is available for all your structured settlements questions and concerns. They can assist you in determining what is best for your situation. The information you obtain can help you in finding the best answers for your deciding on a structured settlement. The right answers can help you see the potential.
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