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Lump Sum for Structured Settlements
A lump sum and structured payments
Many individuals opt to receive a lump sum when they sell structured insurance settlement payments.
Traditionally, the compensation for damages in a settlement usually consisted of a single cash payment.
Alternative arrangements known as structured settlements were created in the 1980’s. Under these arrangements the beneficiary would receive cash structured settlement payments on a periodic basis. This guaranteed stream of annuity payments could be paid over a period of months, years or a complete lifetime.
This may seem like the ideal solution however, as months turn into years, the cost of living, inflation, higher education, and tuition costs soar through the roof and your payments remain the same.
Lump Sum for Structured Settlements
In recent years, a complete settlement funding industry has been created. Companies will offer a lump sum payment to you in exchange for the rights to receive future annuity payments under structured agreements. Companies like Woodbridge Structured Funding, LLC offer customers the benefit of direct access to their cash.
To gain immediate access to their money, a person can sell all or part of their future structured annuity payments to a settlement buyer for a lump sum. The factoring company acquires the right to receive future structured settlement monies in exchange for a lump sum payout.
Reasons to sell insurance payments or sell structured settlements could be to get money needed during a family emergency. Some people choose to repay a debt or to use the lump sum cash for investment purposes such as starting a business or buying a home. Others use the money to fund an entire college education.
Remember, you are in control of your money.
You do not have to wait for your money!