Structured Settlements, Tax Free Future Payments, Structured Settlement Payments, Payout, & Annuity in Fort Lee, Hackensack, Cherry Hill, Jersey City, Roseland, NJ, the Surrounding Areas, and Throughout NJ, PA, & NY
What is a Structured Settlement?
A Structured Settlement is a customized stream of future periodic payments that are funded by annuities with a fixed rate of return from highly-rated Life Insurance Companies. A Structured Settlement, unlike any other investment, provides future guaranteed tax free payments that can be paid for life or any period of time. Payment streams can include monthly, quarterly, annual payments and future lump sum payments. Income streams can be level or increase using a Cost of Living Adjustment.
Types of Annuities:
- Life with Period Certain Annuity – provides equal payments to the plaintiff throughout his/her lifetime with a guaranteed period
- Period Certain Annuity – provides equal payments for a guaranteed period
- Guaranteed Lump Sum Payment – provides a payment on a specific date(s)
- Joint and Survivor Annuity – provides equal payments to the plaintiff and spouse for as long as they both live with payments continuing at 100% to the survivor.
- Temporary Life Annuity – provides equal payments for as long as the plaintiff is living but only up to a specific number of years.
- Structured Settlements
- Attorney Fee Structured Settlements
- Non Qualified Structured Settlements
- Reinsurance Agreements
- Treasury Funded Structured Settlements™
- Single Premium Income Annuities
- Life Markets
NOT ALL PROCEEDS FROM A SETTLEMENT ARE PLACED INTO A STRUCTURED SETTLEMENT. A PORTION OF THE PROCEEDS MUST BE ALLOCATED FOR ATTORNEY FEES, REIMBURSEMENT OF LIENS AND IMMEDIATE CASH NEEDS
Who Can Buy a Structured Settlement?
To comply with the Internal Revenue Codes that allows an injured party to receive the future periodic payments tax free (Section 104(a)(2) of the Internal Revenue Code and IRS Revenue Ruling 70-220) and to avoid constructive receipt, the Defendant or its liability carrier must fund the Structured Settlement. Neither the injured party nor his/her attorney can fund the Structured Settlement.
When do I have to decide if I want a Structured Settlement as part of my personal injury settlement?
Structured Settlement must be decided before or at the time the case is resolved. The Structured Settlement must be part of the overall settlement and the future periodic payment stream must be incorporated into the final closing documents. This includes, but not limited, to the Release and Petition / Order.
Why, When or for Who should a Structured Settlement be considered?
- Incompetent individual or a minor
- An individual who is conservative in their investment portfolio
- To replace or supplement lost wages
- To accommodate for rehabilitation and training
- To provide income for future medical needs
- To prepare for a child’s future education
- To supplement or provide retirement income
- To protect against dissipation and mismanagement of funds
- A means to circumvent market fluctuation and volatility
- Security through highly rated Life Insurance Companies
- Provide guaranteed payments to beneficiaries
- A shelter from bankruptcy or judgments
- Protection of the future payments in the event of divorce, as they are normally not subject to marital distribution
Where do you go for all of your Structured Settlement needs?
Your trusted partner, Settlement Funding Associates, Inc.
Whether it’s a personal injury structured settlement, wrongful death, workers compensation, medical malpractice structured settlement, or another type of claim settlement, we can help. Learn more about these types of claim settlements in Fort Lee, Hackensack, Cherry Hill, Jersey City, Roseland, NJ, the surrounding areas, and throughout New Jersey, Pennsylvania, and New York.
Commonly Asked Questions:
By arranging a meeting in person or by telephone with our consultants.
No. A structured settlement annuity is only available to individuals who have sustained a physical injury or physical sickness and who’s case is in personal injury litigation. The injury/sickness must comply with Section 104(a)(2) or the Internal Revenue Code.
No. Both the principal and interested earned is paid on a tax free basis, under Section 104(a)(2) and IRS Revenue Ruling 79-220.
Yes. Payments are guaranteed for the lifetime of the individual or for a specific period of time no matter what happens in the financial market place.
No. The accepted payment stream cannot be accelerated, deferred, increased or decreased.
Any unpaid benefits within the guarantee period, will be paid to the plaintiff’s beneficiaries or his/her Estate. These remaining payments to the beneficiaries are also free from Federal and State taxes.
Structured settlements are funded by some of strongest life insurance companies in the world. Many of these companies have been in existence for more than 100 years.
No. We offer comprehensive professional services at no cost to those who engage in our services, including the plaintiff.