There are 47 states with structured settlement protection laws, created by a model enacted by the National Conference of Insurance Legislators (NCOIL). Of the 47 states, 37 are wholly or partially based on the NCOIL model law. Structured agreements provide much-needed protection, security and peace of mind for more than 30,000 agreement beneficiaries a year. If you have a structured settlement, you have the right to sell your payments.
Facing a crisis such as foreclosure or not having transportation to get to a job, many structured settlement owners decide to sell part or all of their payments. When a structured agreement is established, it is generally tailored to meet the needs of the injured person or survivor. Unfortunately, sometimes those needs change and the structured agreement owner needs access to their money right away. Selling future payments allows someone to access the money they need quickly.
Structured settlements can help claims departments resolve cases more quickly and without the time and expense of Structured settlement consultants can be a valuable part of your settlement team and can help you throughout the settlement process. New Hampshire, Wisconsin, and the District of Colombia do not have structural agreement protection laws, but homeowners can still sell payments in the state where the insurance company is located. If you need a copy of your settlement agreement, you will need to contact one of the parties involved in the settlement, your lawyer or the agent. Once the client or his law firm has constructively received the settlement dollars, they completely lose these valuable tax advantages.
When you settle a portion of your personal injury claim with a structured settlement, you have funded known expenses such as rent and ongoing medical bills with reliable annuity payments. Structured agreements are supported by lawyers, legislators, judges and disability advocates because they have seen firsthand what happens to injury victims whose financial security has been eroded due to unforeseen circumstances. The insurers of the National Structured Settlements Trade Association 601 Pennsylvania Avenue NW Suite 900 South Washington, D. American General Life Company are market leaders in drafting structured settlement annuities and have been in business for more than a quarter of a century.
Unfortunately, most Americans who go through the long, exhausting, and costly liquidation process never realize the many advantages that structured agreements can provide. They provide much-needed protection, security and peace of mind for more than 30,000 agreement beneficiaries a year. If a court proceeding determines that the plaintiff is owed money, it may be considered a structured settlement rather than a lump sum. The process of issuing a structured settlement is complicated and results in a simpler and easier solution for someone who wins a case.
Structured settlements have been a favorite resolution in personal injury and wrongful death cases for the past three decades. American General insurers are market leaders in providing structured settlement annuities to victims of personal injury, physical injury, or physical illness.