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Should I Accept a Structured Settlement from the Insurance Company for a Personal Injury Claim?

Insurance companies often offer a plaintiff in a personal injury case a number of different options to settle a claim prior to trial, such as a lump sum payment, a structured settlement, or a combination of the two. The most common form of a settlement in personal injury cases are lump sum payments. A lump sum payment is a one-time payment issued by the insurance company in effort to settle a claim against their insured. A structured settlement is paid to the plaintiff over a period of time, generally coinciding with certain key ages of the plaintiff. An example of a structured settlement is as follows: a plaintiff will begin receiving $1,000 per month when he or she turns 40 years old.

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