Many funding companies offer both the structured settlement quote and the calculators to the customers. The reason is, that many people want to cash in their structured settlements.
1. A Potential Case Study.
Let us assume, that the heavy duty truck drives against the passenger car and the driver gets difficult injuries, which will limit his ability to move for the rest of his life. Because the passenger car driver is a victim, the insurance company of the truck owning company has to pay to the driver.
The lawyer of the passenger can driver and the insurance company will agree about a compensation of $ 500.000. The driver wants the payment to start after four years. This is a typical situation, where the structured settlement quote and the calculator is needed.
2. Another Potential Case, Which Requires The Structured Settlement Quote.
The long paying period of the structured settlement may arise one peculiar problem. Very few people seem to think, that also the insurance companies can become bankrupt. A victim, who is waiting for the settlements during the many upcoming years, is dependent on those settlements. If there is a danger, that the insurance company will become bankrupt, then it is wise to ask the structured settlement quote and to try to sell the agreement.
But, who would buy a settlement from a financially bad insurance company? The market has companies called the funding companies, who are specialized in these kind of deals.
3. A Recipient Will Need Several Quotes From Several Companies.
The first thing is to guarantee, that these companies are reputable and long term operators, because the settlement is a long term commitment. It is not wise to change from an unstable insurance company into unstable funding company.
4. The Settlement Calculator.
This is a great tool, because with that a victim can calculate, how much he could get as a lump sum. You can find these calculators all over the net on the websites of the funding companies. After you have given the needed details, the calculator can give you an estimated quote. However, it is wise to use an expert in the funding company selection process.
5. The Lump Sum Can Become Expensive.
The lump sum is never as much as the sums of the settlements. In a real life the lump sum opportunity can cost you thousands of dollars. If you think to use the lump sum into some investment, maybe this is not a good idea, because of the costs. The only case, when we recommend the lump sum is, that a recipient is in a danger to lose the money, for instance because the funding company is near to become bankrupt.
Juhani Tontti, B.Sc., Marketing. The situations, when it is wise to take structured settlement quote for your structured settlements are very special. Visit: buy structured settlements Article Source: http://EzineArticles.com/?expert=Juhani_Tontti |
