There is some very good information around the internet regarding structured settlement. There is also a lot of garbage. This is readily apparent to anyone that searches for structured settlement companies. You will find that this phrase is utilized in a variety of confusing ways.
At the most pure sense, a structured settlement company is also known as an annuity issuer. These are the companies that issue the contractual commitment to make a single or series of payments over time to a particular individual or individuals. There are several structured settlement loan companies that are well known and consist of entities like: Metlife, American General, Allstate, Symetra, John Hancock, Genworth Pacific Life or Transamerica. And some maybe less known, but respected, companies, like Aviva. There are some older structured settlement annuity issued by companies like Executive Life of New York or Aurora National.
When you are looking to get a structured settlement, these are the companies that your lawyer or his agent will be looking to arrange your structured settlement. They will provide quotes that allow you to assess whether locked your money in a structured settlement is a prudent investment that makes sense for you. Often times the structured settlement annuities will provide for lump sums or monthly payments or in some cases both. The monthly payments may or may not include a cost of living increase (at varying rates) and may or may not contain a life contingent phase after the guaranteed period ends.
You may, when looking for structured settlement companies on the internet, stumble upon companies willing to pay you cash for structured settlement. These are the companies that will provide you a lump sum if you are already in a structured settlement and prefer/need to get a lump sum for some or all of the future payment stream. These companies do NOT put in you in a structured settlement but instead provide liquidation options. The largest and by far the best known of these structured settlement companies is JG Wentworth (in Pennsylvania).
If you are in the market to convert a structured settlement to a lump sum this may be what you meant to find when searching for a “structured settlement company”. Mind you, if you are in this market, proceed cautiously and methodically before signing any agreement. Different structured settlement companies (or more accurately in this case, structured settlement buyers, will offer you much different amounts for your future payment stream. Like with any large financial transaction, speaking to multiple outlets is simply prudent.
Catalina Structured Funding is one of the most respected buyers of structured settlement payments in the country. They can be reached at 800-317-3769.