Millions of Americans have benefit from it. Each year, $6 billion worth of structured settlements deals are concluded in the United States. It is already indispensable in the tort industry.
What’s a structured settlement?
A structured settlement is a financial tool used in the tort industry.
When there is an accident, parties want to settle it the best way possible.
Usually, this settlement takes the form of a financial compensation from the tortfeasor to the injured.
This financial compensation can be a lump-sum of money (so, just once), or it can be a structured settlement.
If it is a structured settlement, the compensation will be spread out over a short, medium or long period of time.
Parties negotiate the amount to be paid periodically to the injured person and the duration of this monthly payments.
They take into account every detail of the injured person’s life: health, needs, future needs, family, projects… so the future payments cover all challenges.