What is the difference between and Insurance Settlement and a structured insurance settlement?
Usually a lump sum insurance settlement will be offered in cases of personal injuries that are less sever and may not need long term medical care. Making sure that you are represented by a reputable insurance settlement broker is important. They specialize in protecting your interest in the settlement process. There are many factors that are considered in determining whether a structured settlement will be more beneficial for your situation.
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I wanted to mention another reason why a Structured Insurance Settlement is usually preferred over a one time Lump Sum amount are not usually a good option. If you take a lump sum then invest the money the interest or earnings gained from the lump sum are taxable.
Risk of inflation is also needs to be taken in consideration. Also consider the management fees that you will be charged by an investment broker. When receiving your money over time as an annuity then you can save money by not having to worry about the investment management fees.
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