Frequently Asked Questions
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Kathy Feltner
Servicing Manager
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A structured settlement is a legal agreement that allows a person to receive compensation from a civil lawsuit in the form of tax-free annuity payments over time instead of a lump sum. These payments can help cover costs like medical bills, lost wages, and long-term care.
Payments are made on specific dates as specified in the contract, and are usually released several business days in advance of the due date.
No, payment amounts and dates cannot be increased, decreased, deferred, or accelerated.
Structured settlements are considered safe and secure because insurance laws require life insurance companies to set aside reserves for each policy, and the industry is heavily regulated by state insurance commissioners.
Factoring companies may offer to buy structured settlement annuities at a discount in exchange for a lump sum payment. However, it’s usually best to only sell a portion of future payments.
Structured settlements can be appropriate for many types of cases, including:
- Personal injury
- Wrongful death
- Workers’ compensation
- Guardianship cases
- Cases involving people with disabilities
Your periodic payments will be made to the named beneficiary, which will be designated by the terms of your contract. If you do not designate a beneficiary, remaining payments will be paid to your estate.
Yes. We offer the option to receive your payment by electronic funds transfer directly to your bank account.
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