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J.G. Wentworth Blog

Structured Settlements Benefit Some, but Not All

Hi Folks, J.G. Wentworth here.

I’m always reading the latest news about selling structured settlement and annuity payments because I want to keep up with everything going on in the industry.  When I come across important or relevant information, I feel like it’s my responsibility to share it with you here on my blog.  Today, I want to tell you about an article I recently read on the “Money Watch” portion of CBS.com.

The article, entitled “Some structured settlements may offer significant advantages,” describes the instances in which settlements resulting from accidents and wrongful death lawsuits offer financial advantages that fit your specific needs.  These settlements can be structured to provide regular income to fund your life now and in the future, including periodic lump sums for certain expenses.  The examples the article gives are “Need a wheelchair replacement every four years?  A daughter goes to college in 2019?  You can fund four years of tuition through your payments.”

I couldn’t help but wonder as I read the article, why are people always coming to me to sell structured settlement payments if the payments are supposed to have such significant advantages?  The answer is simple: life is full of curveballs.  What if your daughter decides she doesn’t want to go to college?  If your life isn’t structured, then why are your payments?  The conclusion I came to after reading this piece is that periodic payments might work for some people, but not all.

The article explains that “the final benefit of a structured settlement is that you don’t get all your money immediately” and that payments are “spaced out to keep you from wasting the money funding your future.” For some people, this isn’t a benefit at all.  In fact, it can be a disadvantage.  What the article fails to mention is the fact that many people need cash now, especially in this tough economy.  That’s where I come in – if life throws you a curveball and you’re interested in selling some or all of your structured settlement payments for a lump sum, contact J.G. Wentworth today.