A broker plays a very important role in negotiating a structured settlement payment plan for you. A structured settlement can be an agreement between you and an insurance company. Under this agreement, the insurance company agrees to pay you a predetermined amount of cash for a fixed period of time. A structured settlement is often given to the plaintiff in personal injury cases.
Benefits
There are numerous benefits of going for a structured settlement payment plan. You can have a structured settlement annuity for the whole life. You will be getting a fixed amount for a fixed period of time. Furthermore, the payments made under structured settlement annuity are tax-free.
Need For A Broker
With the help of a structured settlement broker you can negotiate with the company. The broker would be able to provide the necessary financial inputs that will help reach a structured settlement payment in your favor. Your monthly expenses, retirement plans, extent of hazard in your occupation and your age will all be important considerations in the negotiation.
If in the future you would like to sell your structured settlement annuity, you would need the help of a broker again. The broker would be able to seek out the best structured settlement lump sum offer for you. One thing that you must understand is that closing of a structured settlement is a complex process. A professional broker will help you understand the federal and state laws that deal with the closing process. According to federal laws, either the customer or the funding company would need to obtain a court order to ensure that there are no tax liabilities. Help of an attorney or a broker would make the process easier and faster for you.
Based on your needs you can partially or fully sell your structured settlement payment. A broker is the best person to help you decide the best payment option for you. Very often when people have huge debts to settle, they go for one time lump sum offer. If you need to make some immediate payments such as college fee, loan payment or a medical expense you can opt for partial payment.
To find out what sort of structured settlement payment you are entitled to, you can fill out a form. Provide all the necessary information and get a free quote. The quote will give you an estimate of the amount of cash payment you can get. If you provide the right paperwork, you can get the quote within minutes. The structured settlement plan offered to you will be tailor-made according to your needs.
