In 1982 Congress passed the Periodic Payment Settlement Act (Public Law 97-473), which includes Sec. 130 language proposed, authored, and negotiated by David Higgins, that codified the structured settlement process.
Structured settlements provide a claimant a stream of spendable, dependable, tax-free income, as an alternative to a cash settlement for claimants, in personal injury and wrongful death lawsuit settlements. Those payments are funded by a private placement variable annuity issued by a highly rated insurer. The guarantees of a structured settlement are in the best interest of the vast majority of claimants settling lawsuits.
However, in today’s low interest rate environment many claimants with high value settlements are opting to not take advantage of a structured settlement in favor of a cash settlement. For those claimants we offer the Pass High Value Structured Settlement that provides an opportunity to earn a higher tax-free market rate of return, based on their risk tolerance.
If you are claimant expecting to receive $1 million dollars or more from your personal injury or wrongful death lawsuit, send us an illustration request to see what we can do for you.
If you are an attorney with this type of settlement pending, send us an illustration request.
We will accept structured settlements from a one claimant Qualified Settlement Fund.