Structured Settlements : Problems and Solutions
Posted On Saturday, November 27, 2010 at at 11:58 PM by Lord Sylar In case of Structured Settlement, there are some problems that an injured party can face.
- An injured person most probably won't be able to work for a considerable amount of time. If that person doesn't have a lump sum in his/her hand, he or she won't be able to invest in any income generating business either.
- In case of small insurance companies, there is always a fear that they will go out of business, bankrupt. In that case, the insured party will not be receiving any money.
- Once a structured settlement is decided upon, it cannot be changed. This can be a problem if the insured party suddenly needs money later.
Now, to avoid these problems, first of all the insured party should consult a good insurance lawyer who specializes in structured settlement. Consultation with financial adviser and medical adviser is also very important. It is to be made sure that a structured settlement is really needed.
Consulting the lawyer and advisers will help the insured party make deal with an insurance company which is financially strong and almost risk-free.
Consulting the lawyer and advisers will help the insured party make deal with an insurance company which is financially strong and almost risk-free.
In case the urgent lump sum of money is needed, the injured parties can always consider selling structured settlement. In order to achieve maximum from Selling structured settlement, legal and financial advisers should be consulted before making any sorts of deal with any company.
Structured settlements are not appropriate for everyone. Before choosing it, it is important that the injured person actually needs it. It can be a blessing for those who need it.
Structured settlements are not appropriate for everyone. Before choosing it, it is important that the injured person actually needs it. It can be a blessing for those who need it.