New York Life
New York Life
New York Life

Victims of physical injury face a tough road.

After surviving the initial trauma that caused their injury, some face the prospect of never being able to work again. Many will need continuous medical treatment. Frequently, families' dreams, such as a college education for their children, are jeopardized because of a lack of resources.

Whatever the situation, all face a life that has been altered. Those who seek restitution through a lawsuit or a claim require a settlement that will be able to take care of all of their foreseeable needs. That's why the method in which a settlement is made is so important.

Many plaintiffs accept a lump-sum cash payment as settlement of their suit. While at first glance this may seem like an adequate resolution, it can present some problems.

The amount of cash received is intended to last a lifetime and individuals may not be prepared to manage these assets on their own.

A settlement is intended to meet the present and future needs of the plaintiff, but an all cash settlement can be prematurely dissipated. However, there are alternatives to purely lump-sum cash payments - structured settlements.