What is a Structured Settlement primarily used for?

A Structured Settlement is primarily used to manage large claims through multiple payments over time, rather than providing a single lump sum payment. This mechanism typically benefits claimants by offering a steady stream of income, which can be more manageable and secure than receiving a large sum upfront.

These settlements are often utilized in personal injury cases, worker’s compensation, or other significant claims where the claimant may require ongoing support for medical expenses, rehabilitation costs, or living expenses due to the nature of their injury or circumstances. The structure allows for payments to be tailored to the claimant's future needs, addressing financial planning considerations that can extend over several years.

In contrast, other options refer to more immediate or simplified resolution processes, such as minor claims or quick settlements, which do not capture the essence of structured settlements that primarily focus on large claims with a need for ongoing financial management.