Here’s an financial idea I wasn’t aware existed. This is probably because I don’t have much experience in terms of settlements and ongoing insurance payments that seem much more common in the U.S. Today I came across a company that offers a bulk payment for structured settlements. The way Structured Settlements at J.G. Wentworth work is actually an idea that makes loads of sense, once you stop to think about it.
So, how does this work. Well, people unfortunate enough to be involved in an accident often end up being the recipients of an insurance payout that pays a sum on a monthly basis. This is what is called a structured settlement. Now, sometimes these people may need a lump sum for a particular reason. Finance companies like J.G. Wentworth can take the future payments and turn them in a present day cash lump sum. Interesting idea really.