Accident Settlement

What is an accident settlement?

In the structured settlement industry, an “accident settlement” can be the structured settlement paid to an injured party.

Who pays the structured settlement?

If someone is injured in an accident and they sue for financial damages, the parties to the lawsuit can agree to settlement case. In many cases, the parties elect to provide the settlement sum in a structured settlement rather than a single lump sum payment. The payments payable under a structured settlement usually come from an insurance company.

What is a structured settlement?

A structured settlement is funds paid to compromise a legal case that is paid out to the injured party at a set interval of time. The insurance company ensures that an annuity is purchased that guarantees recurring payments are paid out to the injured party over time. The goal of a settlement of this kind is to provide ongoing income or to meet future needs of an injured party.

How do they receive their settlement payments?

The insurance company who is obligated to meet the settlement terms purchases an annuity which generates the regular payments to the injured party per the terms of their agreement.

1-800-LUMP-SUM
(800-586-7786)
Free Call. Free Quote.