A lot of us receive compensation during our lives and in the past the compensation would always be paid in the form of monthly payments. Nowadays, with the economic downturn we are all experiencing, companies are much less willing to do that and instead pay the total amount monthly.
While I do appreciate that this is the most financial sound way of going about it, it is just extremely restrictive and not fair. People need to have access to the money they are owed and the fact that the courts and insurance companies can together collude to ensure that this doesn’t happen is pretty frightening.
The benefits of monthly payments are wide ranging and plain for all to see but I will explain them in more detail throughout this article.
We live in a world that is plagued by unemployment and wealth disparity and now those who get the lucky break of compensation are struggling to feel the full benefit of it too.
If you want to learn more about the benefits of structured settlement payouts then do read on, they are a great way to ensure you can access the majority of your compensation money in one lump sum.
Freedom
Having freedom to do what you want with your money is something we all dream about and it really can be made reality if you just do a little research in regards to your incremental payment plan. It Is something we don’t have a choice about, regularly it is decided by the courts and when the law gets involved any chance of reasoning goes out of the window.
Knowing you are entitled to the whole amount, yet only receiving a structured settlement payout can be frustrating.
You have to take things into your own hands and in doing so it will give you the best chance of getting access to the lump sum you need and thus financial freedom. For those looking to sell structured settlements, there are numerous websites and companies that offer you the ability to sell your monthly payment plan in exchange for a lump sum of cash, the catch is that you have to take a reduced amount than you would have otherwise received.
I think that is a great sacrifice to make in exchange for financial freedom and the potential to explore things in life you otherwise wouldn’t have been able to.
Ability to Plan
You have the ability to plan with a lump sum, so many people will immediately think that having a lump sum will mean spending it, that doesn’t have to be the case and with a little sensibility you can plan for a rainy day while enjoying it in the present.
Why Not?
I really can’t see the argument against taking the structured settlement payout, I mean the money you receive was never yours in the first place and thus it is vitally important that you keep what you have for yourself in the form of a lump sum.
This gives you the greatest freedom to express yourself and plan ahead, there is nothing wrong with taking a lesser total sum because it wasn’t yours to begin with. When looking to sell structured settlements online, spend time researching the companies that offer this service and pick accordingly.
About the Author – Jason is not only interested in structured settlements but also a variety of financial markets and sub-sectors. His interest regularly takes him to sites like Dealmarket where he can research the latest private equity deals and industry news.
