Understanding Structured Settlements Better
October 3, 2007 – 11:08 pmIt has been a long time ago since I wrote a post on Structured Settlement. I believe that since then till now, I have a better understanding of how it works. It is true that this is not something that is available in Malaysia but that does not mean that I have to confine my knowledge within the boundaries of my country.
My sister told me that she has a couple of friends who have Structured Settlements. She said that it is something very common in America. I wonder why, maybe the insurance policy holders are not given the option to choose a lump sum payment, maybe because the settlement is so huge that the insurance company can’t possibly pay out in one lump sum.
It is also good to get settlements in installments because some people may not know how to manage their finances well. However, there are cases where a lump sum of cash is better than a small amount at the end of the month, like in extreme cases or emergencies but definitely not to get cash on hand to go on holidays, OK???
When one is out of work and there are medical bills and utility bills to meet and a family to feed, don’t you think that it is better to get a lump sum of cash although it may be a smaller amount?
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