Friday, December 31, 2010
Purchasing Structured Settlements
Purchasing Structured Settlements
Brokers Handling the Purchasing of Structured Settlements
Insurance companies make a ton of money on structured settlements. In the process of helping individuals sell their payments, there are brokers who handle the purchasing of structured settlements and are educating people about 'structured settlements' in general. The insurance companies do not want people to learn the true nature of what a structured settlement is all about. They of course have a vested interest in keeping people in the dark. Brokers that handle the purchasing of structured settlements are putting a serious crimp in their style, shedding light on a subject that they want to keep hidden.
Luckily for you, there are a number of brokers who handle the purchasing of structured settlements that believe people should be informed of their rights as well as all of their options. The choice of whether or not you should sell a structured settlement annuity belongs solely to you, not to the insurance companies. The settlement purchasing industry was created in answer to the needs of individuals whose situations had changed after the initial settlement took place. The HR 2884 Tax Relief Act was enacted recently that allows for an "injured party to receive the right to a stream of payments as compensation for personal physical injuries or physical sickness or as compensation under a workers' compensation law. The party could then sell the right to the payments to a 'factoring' company in exchange for a discounted lump sum payment."
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