A structured settlement is designed as a way to receive compensation when you are injured in an accident or through some other event where someone else was responsible. As a completely voluntary payment plan option beginning in 1982, the United States Congress made it legal for injury victims and defendants to enter into structured settlements as a way to provide payment for the victim’s injuries.
For years to come, the injured receives a steady stream of payments that help cover medical expenses and the costs of living. This is instead of the victim getting one large payment that they need to ration over long periods of time. There are a lot of top insurance companies and their subsidiaries who handle all of their structured settlement business. So, we are going to review them in this entry to help you make an informed decision about who should handle your structured settlement and to help you avoid a scam.
A periodic payment reinsurance produce is among the unique benefits offered by NICO. NICO is the sole obligor for these: the defendant and defendant’s insurer are released from responsibility. This product is perfect for 104(a) situations, since it is completely compliant. NICO has some of the most competitive rates and has the most experience in the industry. We highly recommend them for these reasons and because your payments will be protected for decades to come.
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