Independent Insurance Group Announces Launch
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A structured settlement is a negotiated financial arrangement where a person, who receives a settlement related to a worker's compensation or personal injury claim, agrees to receive tax-free periodic payments on an agreed schedule, rather than as an immediate lump sum. The responsibility to make those future payments as negotiated in the personal injury settlement is taken on by an assignment company and funded by a licensed insurance company. Frequently, the parties seek structured settlements because claimants are deemed incapable of managing their finances independently or are too young or because it offers guaranteed, attractive benefits they cannot match on their own.
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