Introduction:
Getting injured really hurts, but not so much when one could receive some compensation for the losses incurred. Should it be a lump compensation or periodic cash payments extended over a period of time? It depends on individual needs and the nature and gravity of the injury. Structured settlements are structured payments through and annuity system to compensate for injury losses. It is an alternative to the system of lump cash settlement. It can be structured to provide the victim cash payment over a period of time.
Structured settlements:
Structured settlements were accorded a special legislative status in the year 1982, so that large settlements could be made agreeable to parties and certain and certain protection could be provided to victims. Under a structured settlement, the victim is entitled to receive compensation over an extended period of time, often a life time instead of a single payment. Structured settlement helps protect the interests of the victim, while it makes the payout more palatable to the defendant also.
