Security for the future can come in the form of a structured settlement. Too many times in today’s society people search for something that will provide them with a sense of financial security.
This becomes true especially for those who have been injured as the result of someone else’s negligence which has resulted in the loss of income and possibly the ability to work. The structured settlement is an opportunity to provide the person with the sense of financial security that will ease their minds.
Structured settlements are usually annuities that are awarded in law suits when one has been injured as a result of someone’s negligence. The opportunity for financial security comes in the fact that the injured party has say in how the payments are set up for the structured settlement payout.
The structured settlement payments are set to span out over a period of time so that the plaintiff will have his needs personally and medically met.
The structured settlement payments are usually set to payout over a period of time most of the time until the plaintiffs death. The financial security in this is that if you have an income from social security or even a retirement check, the structured settlement payment would be a supplement to those checks. Let us face the fact that with today’s economy social security and retirement from a job are often not enough for the average individual to make it through from payday to payday.
Structured settlements are often the reward in a personal injury case. Should you be looking at a loss of wages due to the injuries incurred, structured settlement payments could be a financial security of income for you.
Loss of income is often a devastating life changing experience that leaves an individual desperately trying to figure out how to meet the monthly bills. With a structured settlement in place the individual has a set amount of money that will come to them periodically based upon a schedule that was agreed upon at the time of the award.
Structured settlements often financially secure in the fact that they are set up to take into consideration your medical and personally and medically. They can be adjusted up should your needs medically become more substantial that when you originally prepared the structured settlement payments.
This provides a sense of financial security in the fact that you know you will never be hit with medical bills that you will have a hard time paying which in turn could bring bill collectors pounding on your door.
The biggest financial security for some is that the structured settlement payouts are not taxable. This generally tends to be because it is a legal decision derived from the courts. For many people they feel that they pay enough taxes without having more piled on them because the courts have awarded them a settlement because of injuries incurred from someone else.
Financial security is something that everyone has on their minds. Structured settlements help to ease those worries and provide a sense of peace for the individual holding the structured settlement. So if you are in the position of securing or owning a structured settlement then perhaps they are the answer for your financial security for the future.
This is a guest post By Mike Hackworth. Read more about structured settlements at his site at Structured Settlement.