LYCOS RETRIEVER 
Structured Settlements: Payments
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Structured Settlements are perhaps the most secure and conservative investment vehicle available to claimants... the universal support for the product by all parties. While the primary obligation to make the identified payments falls upon the life insurance company to which premium was submitted, secondary guarantees are in place to ensure funding in the event that the primary company becomes insolvent. In the unlikely event that the primary life company were to default, payments would be assumed by the secondary company, ensuring structured settlement payments are made on time.
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Because Structured Settlements can provide payments for a specific period of time—or even over a lifetime—they can provide benefits that cannot be outlived. Knowing that Structured Settlement payments will be there to meet future financial needs provides claimants with peace of mind and the financial security to plan for the future.
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Recognized by federal law since 1983, structured settlements are an excellent way for physical injury and wrongful death victims to protect their financial security. Payments are free from federal and state income taxes. They can ... be tailored to a plaintiff's specific needs. Since 1985, the National Structured Settlements Trade Association has worked with attorneys, consumer activists and disability advocates to promote the benefits of structured settlements.
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Structured settlements are ... the kind of financial arrangements that are made use of, to pay those who have come into a large sum of money, such as winning the lottery. Contrary to popular belief, the winner is never given one large sum of money as a reward. The strategy of structured settlements is once again made use of, to pay out a stipulated monthly payment, over a lengthy time period. This may seem like a good idea for those who are without any financial discipline. On the other hand, it does not seem reasonable to treat every beneficiary, as if he or she had, no fiscal restraint. However convenient it may be for the payer to control the outflow of the cash over years and years, this may not be the best means of securing financial independence for the beneficiary and any dependents.
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Structured settlements provide many benefits to injured claimants, defendants, insurers and attorneys. For claimants, these benefits can include tax-free annuities, guaranteed payments over time, elimination of investment fees, and more. Defendants, insurers and attorneys benefit from reduced litigation and claim management costs, as well as avoidance of the risk and expense of a jury trial.
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Structured settlements ... can be appropriate for adults, depending on the circumstances. A structured settlement permits the victim to plan for the future, because the periodic payments are locked in when the structure is created. This has the advantage of providing a certain amount of money, guaranteed, pursuant to a financial plan that takes into consideration the victim's specific needs and desires. And as mentioned above, it is completely tax-free.
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