Top 10 structured settlement annuity companies
You might be thinking what this structural settlement is? Basically, it is a term used in insurance business for the financial arrangements where payment is issued in time series until receiving of the total amount for a settlement.
Structured settlements are normally very detailed and there is no confusion about the receiving of payments in the contract. Claims are settled through this contract and different people; institutions and legal authorities use structured settlements to pay their obligations.
When the firm get illiquid and they need finance, they use structured settlements in order to run their operations or pay their obligations. Now you have an idea that what is structured settlement and currently you must be thinking how this structured settlement contract works? This is very simple contract and in this contact a party who have to pay the money pays in a time series manner to the insurance company and the insurance company pays the lumpsum amount to the aggrieved party.
For example, you have caused an accident and a person lost his legs in this incident and he went to the court for financial assistance and court gives order to you to pay the financial assistance to that man. In this case what you will do if you don’t have that amount in lumpsum? Obviously structured settlement will be the solution.
You will go to the insurance company buy a contract for a period of time pays the money in periods and the insurance company pays the money in lumpsum to the guy who has lost his legs in the accident. Obviously every thing have some advantages and disadvantages so as structured settlements. The advantages and disadvantages of the structured settlements are explained below.
Advantages of Structured Settlement Annuity
The main advantage of structured settlements is the ease of payments, which means you have to pay the payment to the party in lumpsum but insurance company will do it for you, you just need to pay the amount periodically to the insurance company. Moreover, the claimant also has the option to receive the payments in periods like monthly, semi-annually or annually.
Disadvantages of Structured Settlement Annuity
The biggest disadvantage is if you want to sell your settlement early you need to pay the depreciation amount for the future years although you will receive the amount in present value. Means if the contract is for 10 years and every year it has $5000 depreciation and you want to settle it in the 6th year, you need to cut the depreciation for four future years from the value you receive today. The second disadvantage is it needs a lot of paper work and it takes a lot of time to process the contract. The delays in the contracts for the first time are a routine task.
You have a brief idea of structured settlement annuity now after reading the upper section of this article. In the lower section we are going to describe the top 10 best structured settlement annuity companies in the world1.
1. Wood Bridge Investments
On the top of the list is Wood Bridge Investments which was started in 1993. This company is well known for its fast processing, customer care services and multiple options in the contracts. If you are looking for the settlement contract now a days then Wood Bridge is the best option for you.
Metlife is a biggest American insurance company well known for its wide services in different parts of the world. They offer structured settlements in wide range of areas and products like life, home, vision, future, accidental, auto, health and many more.
3. CBC Settlement Funding
CBC Settlement Funding is a A+ rated company which is famous for settlements of annuities in a simple way. You can get all of your cash in lumpsum from CBC Settlement Funding before maturing the contract. The company was awarded as best company for its performance in 2016 from the Bureau of Finance.
4. JG Wentworth
J.G. Wentworth is not just a structured settlements company but it is much more than this. Here you can get your structured settlements get cashed and the best thing is at your own terms. Deciding own terms for a contract is the major reason behind the fame of this company. It covers all the areas from personal, family, legal, accidental to different other fields.
Henderson is listed among only four Canadian companies providing structured settlements in Canada. Its started operation from simple insurance business and due to their quick customer services, they got popularity among Canadians and got license from the Government of Canada for structured settlements annuity business.
When you just focus on customer services leaving other things behind than your first choice should be DRB Capital because they are too good at their customer services. They call structured settlements annuity as a way not the loan which allows you to make payments periodically and receiving in lumpsum.
7. Robin Young Company
When it comes to the market capture for structured settlements than Robin Young Company is the market leader as they have most of the contracts of Structured settlements compared to other companies. They are innovative in their ways of business and offers wide range of contracts/plans for singles, married, family, accidental, legal, financial and etc.
8. RCapital Associates
R capital associates are famous for rising capitals and they accept the contracts from other companies and converts them into their company. If you are receiving payments and not satisfied with that company and want to get it in lumpsum than R capital Associates is the best option for you.
This is a partner company of CBC settlement funding and started its operations dated back in 2013. This company is an online education provider for the financial matters or you can simply call them as providing financial advisor services. They later started their business in structured settlements and within very less time they became popular among people.
10. Oasis Financial
Oasis Financial was started in America in order to provide people with structured settlement services and they started accepting the half or full proportion of structured settlements. They are famous for pre-settlements for the legal contracts.