Did you know that in the US, 92% of tort cases involve personal injuries? As you can see, it’s very common to go to court to get compensation for a personal injury.
If you’ve been hurt recently, then you might be seeking fair compensation for your damages. One option you might’ve come across is a structured settlement.
But how do you go about it? And what do you need to be mindful about?
Here are 3 important facts you need to know before you shop structured settlement quotes.
Always Deal With Licensed Professionals
To ensure you’re getting good quotes and that you’re working with reliable and trustworthy people, always deal with licensed brokers or insurance agents. They’ll be the ones in your state who can get you fair compensation.
You can double-check their licensure by checking state insurance or financial service website portals. All you need is the license number so you can verify it.
For example, Rightway Funding on Facebook is readily available with information about structured settlements and has a link to their website. You can easily request their license number by contacting them.
Don’t Take Offers to Buy Your Structured Settlement Payments
Unfortunately, there are unscrupulous companies who will try to confuse you with what seems to be official terms. They’ll claim to be giving you a structured settlement quote, but instead, they’ll offer to buy it from you.
In the confusion, many people end up transferring their structure settlement payment to the company for dirt cheap.
These companies often have website names that claim to give you structured settlement quotes. But don’t fall for it. Instead, what they offer you are quotes for transfers or buyouts and usually lump sums.
These businesses are typically unlicensed as well, so be careful when doing your research.
You Have the Option of Selling Your Structured Settlement
While you shouldn’t take any unsolicited offers to buy your structure settlement, you can still choose to sell it if you wish.
By selling your structured settlement, you can enjoy some benefits. For example, not only are they tax-free, but you’ll also have steady income over a period of time.
This can offer extra security during difficult times. It can also be an excellent option if you have large upcoming bills, such as when you buy a new car or house, or you need to pay off a large amount of debt.
Again, don’t trust any unsolicited offers that come to you. Instead, shop around for structured settlement companies that will give you no-obligation quotes. You can then compare and pick the best for your situation.
Know These Things Before Shopping Structured Settlement Quotes
Now you have some additional information when it comes to structured settlement quotes. If you keep this in mind when shopping quotes, then you’ll be able to get a structured settlement value that’s fair for your situation.
So make sure you do your due diligence. That way, you’ll get the maximum amount possible to compensate for your suffering.
If you’d like to learn more about cash for a structured settlement, read the rest of our blog now.