Insurance Structured Settlement

Without this information the plaintiff s attorney was not be able to make a complete assessment of the benefits and drawbacks of a settlement offer.

Insurance structured settlement. The process of settling a civil case through a structured settlement involves the person who has been wronged the plaintiff the person or company who caused the harm the defendant a consultant experienced in such cases a qualified assignee and a life insurance company. Our definition of structured settlement annuities would be a financial product purchased for a plaintiff by a defendant or a defendant s insurance company as part of a legal settlement. Guaranteed payments over a period of time. Structured settlements are a negotiated settlement of a personal injury claim in which the defendant agrees to make periodic payments to the plaintiff.

A lump sum payment means that the defendant or the defendant s insurance company makes one payment to you and that payment settles the case however instead of a lump sum payment some plaintiffs opt to have their compensation paid out in a structured settlement. A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule rather than as a lump sum as part of the negotiations a structured settlement may be offered by the defendant or requested by the plaintiff. Security of a quality funding vehicle. Bhgss will purchase an annuity from berkshire hathaway life insurance company of nebraska providing you with the same future payments.

What you need to know. Structured settlements have drawn strong support from the federal government as well as plaintiff attorneys state attorneys general legislators judges disability advocates and many others that have seen their power to protect injury victims from quickly dissipating or otherwise outliving their income after which time they would most certainly turn to various forms of government or public. The majority of settlements in personal injury cases are lump sum payments. Structured settlements life insurance.

The gargan scandal is the second time in three years that a structured settlement broker has been sentenced to prison for crimes involving insurance settlements. The defendant or its insurer will agree to make the structured payments to you and will assign that obligation to bhg structured settlements inc. Payments over a person s lifetime. A structured settlement frequently costs insurance companies less than it would to make a lump sum settlement.