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What is a structured settlement?

What is a structured settlement?

For people who have been successful with personal injury claims, the claim has traditionally been settled by the insurance company agreeing to pay a one time lump sum of money in exchange for releasing the plaintiff’s claim.

But today, a trend we are seeing in the Law Offices of Michael L. Neff is the “structured settlement.” In this kind of settlement, instead of a lump sum, the injured person usually agrees to accept multiple payments over a period of time. These can extend over a person’s lifetime, or over an agreed number of years. These agreements typically act as an annuity.

If you are faced with a decision to make about a structured settlement, ask an experienced personal injury lawyer to help you make that decision. At the Law Offices of Michael L. Neff we are here to help our clients get the best result possible.

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