- You are in control of how the money is used.
- You are not dependent on the insurance company for your money.
- Payments are a valuable asset that can be valued and sold in a competitive marketplace.
- In the event of a death, structured settlement payments can be deferred to a beneficiary.
- Structured settlements are often a welcomed compromise in a lawsuit, with advantages to both the plaintiff and the defendant. If you don’t want to pursue long-term litigation, you may prefer a structured settlement.
- Payments are tax-free.
- Payments can be scheduled for almost any length of time and can begin immediately or be deferred for as many years as requested. They can include future lump-sum payouts or benefit increases.
- Unlike stocks, bonds, and mutual funds, structured settlements do not fluctuate with market changes. Payments are guaranteed by the insurance company that issued the annuity.
- A structured settlement often yields, in total, more than a lump-sum payout would because of the interest your annuity may earn over time.
- If a child under of the age of 18 received a structured settlement in a personal injury case and his or her circumstances have changed profoundly since the settlement was ordered, a parent or legal guardian may sell the right to future payments