An injury received in the case of an accident may bring instability in your financial setup. You are happy that you have efficiently planned the budget for current month, but a road mishap may turn your joy and sorrow. But not any more! If you have received an injury because of negligence of other person, you are eligible of getting a lump sum amount required for your treatment and the good news is that you will receive this money in a well-planned and structured manner. We are talking about Structured Settlement Annuity, which has received immense popularity in recent past.
What Is Structured Settlement Annuity
In case of a road mishap, structured settlement annuity provides you with a flow of periodic payments from other party involved in the accident, provided that it was other party’s fault in causing the accident. Thus, rather than receiving whole money in one shot, the decided money is received by the victim in form of various payments. In this way, structured settlement annuity helps you to achieve financial security, even in case of serious injuries.
Benefits Of Structured Settlement Annuity
There are many benefits offered by structured settlement annuity and here we present two most desirable benefits:
It is a good option for an accident victim, who doesn’t have the right sense to expend the payment received by him or her in a right manner, to go for Structured Settlement Annuity. Thus, he or she may utilize periodic payments more effectively. Another enchanting aspect of structures settlement annuity is that the payment receiver is saved from tax deductions, which are levied upon huge amounts received by a person. As the payments will be received in small amounts, there is no fear of tax deductions.
Benefits Extended For Good
If you thought that structured settlement annuity offers limited benefits, here we drop a bomb, capable of causing a big explosion. Under legal circumstances, you have the right to sell your Structured Settlement Annuity to a needful buyer. It might happen that you are not satisfied with the payments you are receiving and want a lump sum amount instead.
Thus, you may search for a potential buyer and sell your annuity to him or her. By doing so, you won’t have to wait for along period of time for obtaining all the payments. On the other hand, a person, who is in search of periodic payments, may consider buying your annuity to manage his or her money.
You may invest the amount received by selling Annuity in your business or other different types of needs. Make sure you follow legal ways of selling your annuity to avoid landing into difficult situations. For finding a suitable buyer, you may post your requirements on internet.
Structured Settlement Annuity is definitely an appreciable way of receiving financial help in case of physical disability caused due to an accident and as you saw, the benefits are not limited to this extent only.