When you win a personal injury lawsuit, the judge will have to decide if the amount awarded should be paid in a lump sum, or over a period of time. This is considered to be a structured settlement. A structured settlement is often awarded when the judge believes that the injured party will be facing a lot of future medical bills or a significant amount of time unemployed. For some people, a structured settlement fits the bill, for others, however, it does not.



You may think that because your verdict was for a structured settlement that you will be unable to get your money in a lump sum. This is not true. You can get cash for annuity payments instead. The phrase "cash for annuity payments" means that you trade in some, or all, of the money due to you for a large amount of cash on the spot.

Which Is Better?

Structured settlements are an excellent solution for someone who is facing a lengthy time of hospital services. With payments being made, often monthly, the injured party will not have to worry about paying bills such as rent or utilities. There are some instances, however, when cash for annuity payment is a better option. Court cases can be lengthy, and by the time settlement comes, there may be a large amount of bills already due. In a situation such as this, it may be wise to sell some of the available annuity in order to pay off all of the back bills. As an example, if the victim sold four years worth of annuity, the victim would be able to pay off everything while still having a good amount of money coming in for income.

How It Works

So how does a cash for annuity payment situation work? The first thing to do is to talk to a structured settlement buyer. A qualified buyer will be able to explain how much money you can expect to get and all of the options you have available to you. There are a number of different ways the structured settlement can be cashed in, which is another reason it is vital to speak with a professional. For instance, some people may choose to get a cash for annuity payment while still receiving a portion of the monthly payments, while others may choose to get the payment from years that are in the future.

Where To Start?

There are a number of different companies that offer to give cash for annuity payment, and some are not genuine in their offers. The fact is that there are federal restrictions that need to be understood before the annuity can be cashed in. Whether the money comes from an individual, a company, or an insurance company, you will need a professional to be able to parlay with all of the parties involved. Dealing with insurance companies can be difficult, especially when you are trying to get cash for annuity payments.