Structured Settlement Companies today
Want structured settlement cash now? Not so fast! yet, sometimes cashing in is the only option. That $500 monthly payment from an old accident may have helped with medical bills early on, but if the beneficiary lost his job and fell behind on some bills or had to make significant costly repairs to his home, a lump-sum payout of $50,000 may seem quite enticing. Downsides of cashing in your settlement Selling off an annuity can cost surrender charges of up to 10 percent. Selling before age 59 1/2 can trigger federal taxes and penalties Structured settlement payments are usually the result of a personal injury lawsuit in which the defendant's insurance company funds the award amount with an annuity policy that provides periodic payments and ongoing income to the plaintiff. However, many people find the need to have a lump sum to aid in paying off debt or medical bills. A long-term stream of payments is not always the most beneficial method ...
