Structured Settlement Annuities
A structured settlement annuity exists when an individual receives compensation over a period of time for damages sustained in an accident, etc as awarded by a lawsuit. These settlements may include wrongful death, personal injury, and medical and/or legal malpractice. Often the payments are paid over a guaranteed period of time and defendants will purchase an annuity from an insurance company.
Many individuals who have settled an insurance claim and had the structured settlement annuity or annuities set-up to payout overtime vs. an upfront lump sum can't wait out the terms of the agreement. Things happen and you may need all or some of the cash to help eliminate debt problems, pay for college tuition, start a new business, etc.
Structured Settlement Annuity Buyers
There are different types of structured settlement annuity buyers.
Annuity buyers accelerate your annuity payments at a percentage of the total annuity amount due. The percentage is partly somewhat based on how long it takes for the annuity buyer to receive the total payout. The annuity buyer may then wait to receive the payments according to the original schedule. An annuity buyer can buy all or just a portion of your structured settlement annuity payments. Make sure that the annuity buyer provides you with all the information regarding the transaction up-front and that there are no hidden costs.
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