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Explanation of Structured Annuity Settlement

welcome By: Elena Grace Flores
Legal terms can be sometimes complicated and to simplify the explanation of Structured Annuity Settlement, I was hopeful to find a whole document that can clarify that. As understood, it’s basically a payment plan for a certain period to settle compensation for court cases including injury, death, accidental damages and even annulment. Read this from an institution itself:

Structured Settlements


Structured settlements are agreements between plaintiffs and defendants in which the defendant makes regular payments to the plaintiff over a specific amount of time. The amount of time can be for a few years, a few decades, or even for the plaintiff’s entire lifetime. Structures settlements are most often seen in accidents that caused severe and life-changing injuries to the plaintiff, though they are sometimes used in other kinds of cases.

A Structured Annuity Settlement is popularized in America but practiced by many countries including the Philippines without actually defining the process. Installment payments are rampant locally so, it will not not be surprising that Structured Annuity Settlement will be applied to any legal agreement where both parties consented to this kind of plan. This is a choice that one can suggest if finances do not permit substantial payment at the required time.

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Structured Annuity Settlement for Annulment

welcome By: Elena Grace Flores
In the United States, it is common to apply for Structured Annuity Settlement for injuries, wrongful death and workers accidental compensation. However, in other countries like the Philippines, a lump sum is often paid by the insurance company or expenses are covered by health insurance which is paid directly to the hospital.

Structured Annuity Settlement nonetheless can be applied in Annulment cases where the defendant can agree with the complainant for scheduled payment secured in writing by the lawyer and submitted to court for record purposes. This  can be designed based on the capability of the payer for child support or alimony. The length of the payment plan can range from one year to lifetime as agreed by both parties.

There are of course pros and cons to this Structured Annuity Settlement. Ex-spouses who are not in good terms can’t get over their negative situation easily if the financial support is boggling them for a long period of time. On the other hand, if the payer is not in the position to  pay enough lump sum that the complainant is satisfied of, then this is another alternative to settle financial grievances.

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