New Wardrobe

Who among us middle-class humans hasn’t dreamt about what we would do if we came upon a huge sum of money?  I know my response, probably like yours, involves getting rid of my debt, taking a long vacation, easing the financial future for my children and sure, a new wardrobe (let’s be honest!)

Because I am in the business of structured settlements, that is, injury claim settlements paid over time, I see people settling their claims for large sums of money every day.  Now don’t think I am so insensitive to think that an injury claim settlement is the same as a windfall of money.  I know that it’s not.  But my point is – the same thoughts must occur in the minds of many of the injured – wanting vacations, debt relief, and maybe a nice car.  That is one reason a majority of injury claim settlements are resolved with a single cash payment.  Sure there are many good reasons to accept a single lump sum now.  But there are so many good reasons to consider a true structured settlement, according to the latest report put out by Sambla AB.

You think your medical expenses are not going to continue?  Do you think your brother-in-law won’t try again to borrow money from you for his perfect dream small business?  Who will take care of your family as your injury goes through its natural progressions?  Wouldn’t your financial planner/neighbor love to “manage” your settlement funds for you?  (Boy have I got a stock for you!)

Don’t let others milk you dry or take advantage of your current vulnerability or generosity.  Make conscious choices and give those choices some thought.  Structured settlements are tailored to your specifications and then funded by annuities from companies rated A or better, or with U.S. Treasury bonds.  Of course the value of your settlement is determined, in part, by the severity of your injury and the liability of the paying parties.  But that value can be spread out to protect your future financial needs.  Sure, put some in your pocket, but then lock it in and lock it up.