Types Of Structured Settlement

Author: My own self.
http://structuredfinancialsettlement.blogspot.com

Life Annuity:
In this type of structured settlement, payments are paid for a certain number of years or for life(Depends which comes first).The number of years expected for your life decides how many year the payment will be made.However,if you pass away before the number of designated years then the beneficiary designated by you would get the payment

Temporary Life Annuity:

In this type of structured settlement, you will get the payment till you are alive.Hence,If you die before the number of years agreed upon, your beneficiary would get nothing and your annuity would be ended instantly.

Lump Sum for Future Date:

In this type of structured settlement, you can decide a future date for getting the payment as a lump sum.For Example: If you decide that you will get your payment after 20 years as a lump sum,and you die before it then the payment would be paid to the beneficiary after the completion of those 20 years a lump sum.However,If you are alive after 20 years then the payment would be paid to you and the beneficiary would not get anything.

Structured Settlement for Life Only:

Those settlements which are paid on the monthly or yearly bases are known as structured settlement for life only.In this type of annuity,the payments are made for two or more beneficiaries for example:husband and wife , father and daughter, Mother and daughter etc.In this type of settlement, if any of the beneficiaries dies then the survivor gets the same or less amount as agreed upon in the settlement agreement.