The U.S. Congress has provided the opportunity for injury victims to receive guaranteed, periodic payments as part of their personal injury settlements. In recognition of the value of providing a stable income stream for injury victims, Congress has made structured settlement earnings tax-free. That’s right - tax-free. When you settle a portion of your personal injury claim with a structured settlement, you will have funded known expenses like rent and ongoing medical bills with dependable annuity payments.
Structured settlements have the support of attorneys, legislators, judges and disability advocates because they have seen first-hand what happens to injury victims whose financial security has eroded due to unforeseen circumstances. Structured settlements are viewed as a safety net to provide peace of mind to individuals for long-term financial security.
A structured settlement allows the injured party to tailor payments over his or her life. They can be designed for virtually any need. You may set up monthly payments to mirror a paycheck or set up lump sums to payout in the future for known upcoming expenses like a child’s college payments or retirement. There is no need to meet periodically with an investment or tax advisor. Payments are determined during the settlement process. It gives peace of mind, security and confidence over the long term.
For more information on structured settlements, go to the National Structured Settlement Trade Association website or call one of our Agency Partners who can provide you with quotes specifically tailored for your situation.