Structured Settlement Annuities are commonly set up to compensate someone injured on the job or in a car accident. But what are they exactly? And when would you have one set up for you?

It is an everyday occurrence. What starts out as a seemingly normal day for thousands of people turns into a nightmare when an unexpected mishap occurs that can change someone's life forever. It might be an accident at work, a car accident or a negligent medical error. These kind of occurrences can change people’s lives forever.

What if it happens to you? What if suddenly due to someone else's negligence you were unable to continue to work? Compensation would be something that you rightly wanted and deserved. But how would you want o receive the compensation. Would it be a lump sum or periodic pay-outs over a set time.

First and foremost you need to hire professional representation to help you get through the court proceedings, a compensation lawyer or injury claim specialist will be the best form of legal representative to hire. Once your case has been accepted and the defendant found guilty, it may be determined that the damages owed to you should be paid out using a "Structured Settlement Annuity."

A structures settlement is a plan between the plaintiff and the defendant under which the plaintiff receives their damages as a continuous stream of periodic payments instead of one big cheque.
Over the years these have been shown to effectively meet a plaintiff or claimant's need for security.

Why not a lump sum?
If someone if given a lump sum, chances are they will spend it all too quickly whilst periodic payments are easier to keep.

Also, the tax payments are much higher on a one off cum than they are on smaller periodic payments. Your compensation lawyer will be able to explain more about structured settlements.

It should be pointed out that your payments are only as secure as the company issuing the structured settlement. Therefore you should take care and do your research when it comes to choosing the annuity issuer. Again, your compensation lawyer can help advise you on which company to go with when registering for a structured settlement.

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1. [...] Lawyers For Personal Injury » Employing A Compensation Lawyer To Get A Structured Settlement [...]

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