How Do I Get a Structured Settlement?

Injury Attorneys | Restoring LivesTM

November 14, 2016 | Legal Process |

woman-holding-money

Structured settlement options are popular among personal injury lawsuits. If you’ve agreed on a structured settlement after winning your case, the money will be transferred from the defendant’s insurance company (or the defendant) onto a life insurance company. The insurance company will then work with you to determine settlement terms.

Structured Settlement Terms

Together with the insurance company, you will set the following terms:

  • How frequently you wish to receive your money (weekly, monthly, yearly, etc.)
  • The length of your structure
  • The amount of money you want in each payment

You can also dedicate a certain amount of your settlement to cover events in advance, such as medical emergencies and the like. Once your terms are solidified, it’s very difficult to alter them at a later date. Think long and hard before you make any decisions.

Find an Experienced Insurance Company

Before you decide on an insurance company, make sure that whoever you choose is highly rated for handling structured settlements. If an insurance company goes under or mismanages your money, whatever money was lost in the process is gone for good.

Alternative to Structured Settlements

If you’re not sold on a structured settlement, you can couple a lump sum payment with a structured settlement. Some people choose this to cover immediate expenses for things like debts and medical bills.

Contact a Personal Injury Attorney Today

If you or a loved one have been injured as a result of negligence, you are urged to contact the Indianapolis Personal Injury Attorneys of Wilson Kehoe Winingham. The lawyers at WKW can help you get the compensation you deserve. Call 317.920.6400 or fill out an online contact form for a free, no-obligation case evaluation.

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