Get A LUMP SUM for Your Structured Settlement

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Definitions and Terms Related to Structured Settlement Funding

A Joint & Last Survivor Annuity: An annuity delivers income payments for a person's lifetime and their designated survivor. Payments are based on the lives of two people or more. The payments will continue to be delivered as long as any one listed in the annuity is still alive. When a person dies that is listed in the annuity, payments are sent to the survivors depending upon the terms of the contract and they should continue at the same amount or may be reduced.

Accelerated Death Benefit: An insurance policy feature that gives insurance policy income to the insured over their lifetime, in the case of an illness that is terminal. Payments sent while the policyholder is living get deducted from death benefits due to be paid to listed beneficiaries. Such benefits also happen if an insured needs to live in a home for elder adults, is terminally ill, or needs special medical care.

Get started today! Receive cash for future annuity lawsuit payments. Click here to send your information to a settlement purchaser funder and get a free quote for a structured settlement transfer.

Structured Settlement: This is normally a type of secure annuity. Annuity payments every month or periodic payments are then sent to the injured and over usually long periods of time the settlement is paid in full. A structured settlement is usually a way of paying the injured party in a lawsuit. Instead of paying all the money the judge decides that, the injured party gets periodic payments over time to fulfill the court ordered settlement. Sometimes the structured settlement is started after an initial lump sum is paid then the remainder or the arranged settlement from the court is put in to a long term payment policy. The laws have been adjusted so that the structured settlement receiver can get lump sum money amounts from the annuity in lieu of a set of planned payments or the entire remainder of the structured settlement can be paid in a lump sum. This has to be done with a settlement purchaser company. The courts and judge must see the request and approve it. A court order is created to allow the lump cash exchange.

Lump Sum Payment: A lump sum is sometimes offered instead of payments over time called an annuity. Both are usually offered at the final court settlement and the person receiving the settlement must make a choice. The amount of a lump sum is always much lower than if payments were made over time. Inflation and present value of money is often a reason to take a lump sum from a settlement or early payments being purchased from an annuity. Lump sums can also be payments from an annuity contract, on a specific date in the future, usually built into a plan to deal with foreseeable requirements such as education or vehicle replacements.

Rule of 72: A method that is very simple way to calculate how many years an investment will take to double given a specific interest rate. The number 72 is divided by the interest rate, which will give an approximation of the time needed to double an investment.

Custodian: A person or institution that holds the assets of another. Custodian can be a bank that serves as a depository for the assets of a mutual fund, corporation, or individual or an adult who assumes responsibility for the financial transactions of a minor.

Qualified Order: A final order, judgment, or decree that is issued under the authority of an applicable state statute by an applicable state court, or by the responsible administrative authority if any that has exclusive jurisdiction over the underlying action or preceding that was resolved by means of the structured settlement.

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Escrow: A recognized legal holding of money with a non-related party until services have been rendered. The deposit of funds with a 3rd, neutral party until the details of a contract is finalized or certain items delivered.

Accumulated Assets: The total worth of assets collected over time through an investment.

Actuary: Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property. Evaluates insurance firms’ reserves, determines rates and rating methods, and determines other business and financial risks. Most actuaries are employed in the insurance industry, specializing in either life and health insurance or property and casualty insurance.

A Notary or Notary Public: Among many things they are used to witness and seal important documents. Many document companies and government offices require a notary to sign and seal a document. They are an officer who can administer statutory declarations and oaths, authenticate and witness documents, and perform other certain acts depending on the local and state jurisdiction.

Get started today! Receive cash for future annuity lawsuit payments. Click here to send your information to a settlement purchaser funder and get a free quote for a structured settlement transfer.

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