Hello, I am here again with a new topic 'Structured Settlement Annuity' and today I am going to tell you what Structured Settlement Annuity is. The reason behind choosing this I have choosing this topic is that I have found many people asking about it over the internet, however; it is not related to IT but it is informative. So I did my R&D and decide to share this information you people.
Structured Settlement Annuity is more often a result of legal action which happens between parties where financial award is given to one party by another party as a result court action. Generally it is in the form of payments because a court has stated up so that based on the life span of the person who won this settlement usually from the car accident or some form cause physical injury.
After legal fee are paid whatever balance of the insurance companies settlement will go into annuity and insurance company will then pay the party a payment over time. Sometimes this can be a lump sum payment (large chunk of money given o the individual), however; more often it is monthly income stream designed to replace income that may have been lost as a result of the action, as a result of legal action. This is called a Structured Settlement Annuity.
This was the short introduction about Structured Settlement Annuity. I'll cover it in detail in my upcoming posts.