5 Reasons You Might Receive Structured Settlements

structured settlementsYou may know a little able what a structured settlement annuity is, but you may not be aware of all the different reasons why a person might receive one. More than 37,000 people in the United States use structured settlement money each year. Structured settlements may be awarded for several reasons; some are agreements that come about when someone gets hurt, but there are other instances where a structured settlement annuity may be given. These monthly payments can sometimes benefit their recipients, but it may be a better option to sell your structured settlement payments. Here are five reasons why someone might receive a structured settlement annuity in the first place:

  • Personal Injury
    One of the most common reasons for receiving an annuity settlement stems from an injury. Often, these injuries result from a car accident, but they could also stem from a different type of accident (where another party is at fault) or an assault.
  • Worker’s Compensation
    If you are injured on the job and file a worker’s comp claim, you may be compensated with a structured settlement annuity. Dangerous work conditions can result in serious injuries, and if you’re on the job, your employer may very well be legally at fault.
  • Lottery Win
    One of the happiest reasons to receive structured settlements is because you’ve won the lottery. Some people opt for a lottery annuity in lieu of a lump sum payment. This is helpful if the winner wants to receive regular monthly lottery payments tax-free instead of a big taxed payment.
  • Malpractice or Wrongful Death
    In the case of malpractice and neglect, an annuity may be paid to the family in a wrongful death suit. Although the reason is tragic, this money can help the family in a time of need — especially if the person had no assets or will.
  • Lawsuit
    Sometimes, one of the payment options for the winner of a lawsuit includes a structured settlement agreement. The winner will receive the money to which they are entitled over time, instead of all at once.

Whether you’re receiving payments as a result of an injury case or a lottery win, you may want to considering selling your structured settlements in order to pay hefty medical bills or get yourself out of debt. Doing so can secure a great future for yourself and your family. You don’t have to wait for a payment every month; instead, sell your annuity payments so you have access to the money you rightfully deserve.

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