What does Structured Settlement Annuity mean? Read on to discover the definition & meaning of the term Structured Settlement Annuity - to help you better understand the language used in insurance policies.
Structured Settlement Annuity
A structured settlement annuity is a way for someone who wins a legal settlement to receive the payout. Instead of receiving all the money in one lump sum, the plaintiff puts their money in an annuity, which is a type of financial contract. The annuity not only invests the settlement so that it grows over time, but it also pays the plaintiff on a regular schedule.
We hope the you have a better understanding of the meaning of Structured Settlement Annuity.