Your Structured Settlement Agency

Structured settlement agencies that work with you are most often law firms that deal specifically in the type of lawsuits that most commonly result in structured settlement payments – civil suits such as insurance claims, worker’s compensation and the like. The ones that work to achieve a lump sum payment for you specialize in doing just that – buying annuities and other settlements.

A structured settlement is typically in the form of some sort of insurance annuity. The company that is legally bound to pay you your structured settlement cash purchases an annuity from an insurance company or bank. The one selling the annuity promises to make that investment grow, or at least be available over a period of time. The moneys made or pulled from this annuity are what pay your regularly scheduled structured settlement payments. So, it is fairly easy for a structured settlement agency to simply offer the holder of the annuity an amount equal to or more than the annuity and purchase it.

What happens after the annuity is purchased varies from structured settlement agency to structured settlement agency. Some simply sell and buy annuities as a form of profit making. Some are hired by the structured settlement payees, to buy out their annuity and free up the entire remaining amount of settlement cash for a one-time large lump sum payment. These folks are often in a financial bind, or have a specific financial need, that having their annuity settlement dropped in their laps all at once would help.

Situations that might require approaching a structured settlement agency to purchase your annuity are prolonged health problems and mounting doctor bills, loss of income from ill health or business failure, and the loss of investments and retirement funds due to economic downturns. Being able to use the large sum to clear your debts, keep your head above water or restore that which has been lost on the stock market makes an annuity buy-out justifiable. Situations where you might want to consider a one-lump-sum pay out include purchasing a new home or business, paying for a special event such as a wedding or anniversary cruise, and making a large, one-time investment in property or business. Again, having all that cash at hand can avoid debt problems, loan limits, and whatnot, while putting your annuity to good use.

While taking your annuity in one lump sum can seem like a good idea, you’ll need to make sure that your structured settlement agency isn’t going to get more of the pay-out than you will. And you’ll need to ensure that you understand everything your structured settlement agent is saying. If you have questions, speak up. If you have concerns, speak up. It’s your money, after all. You had to fight hard to get it. No one can take it away from you. Be careful who you give that say-so to.

What happens after the annuity is purchased varies from structured settlement agency to structured settlement agency. Some simply sell and buy annuities as a form of profit making. Some are hired by the structured settlement payees, to buy out their annuity and free up the entire remaining amount of settlement cash for a one-time large lump sum payment. These folks are often in a financial bind, or have a specific financial need, that having their annuity settlement dropped in their laps all at once would help.