Structured Settlement Annuities

Ohio, Michigan, & Nationwide

If you’re about to settle a legal claim for a personal injury, wrongful death, or workers’ comp claim, a structured settlement can provide many advantages for you over a lump-sum payment. A structured settlement turns that one-time award into a steady stream of tax-free, guaranteed payments for a long period of time. For help with setting up your structured payment, contact CW Settlements to discuss your Ohio and Michigan structured settlement annuities today.

What Is a Structured Settlement Annuity?

It can be helpful to think of a structured settlement annuity as the closest thing to a “personal pension” that the government pays for and that no one can ever take away from you. This is true for bankruptcy and legal claims in most cases.

In 2024, U.S. companies paid out $40 billion in compensation. If you settle a claim, the at-fault defendant’s insurance company “assigns” its obligation to a third-party company. That company buys a structured settlement annuity from a life insurance company with your exact payment schedule built into the agreement. You are then paid on the exact dates promised.

What Types of Structured Settlement Annuities Exist?

CW Settlements can help you explore a variety of options, including:

• Period certain. These are paid for a fixed number of years and are optimal for people who want certainty, even if they die early.
• Life annuity. They are paid for as long as you live and can maximize your monthly amount.
• Life with a guaranteed period. They pay for life, but they only last a certain number of years, regardless. They usually provide safety and a higher payment.
• Joint and survivor. These continue to a spouse and/or child after your death. They are useful for married couples.
• Impaired risk/rated age. These use a shortened life expectancy to boost payments. They are often used for severe injuries and can increase your overall payments.

Speak with a trusted advisor who is familiar with structured settlement annuities. They can help you determine what setup is right for your specific situation. Once a structured settlement annuity has been created, you can:

• Change your address and/or bank account.
• Name your beneficiaries for any remaining payments.
• Use your payments as income to qualify for a home mortgage.

However, without selling your annuity, you cannot:

• Borrow against any future payments.
• Increase or speed up your payments.
• Cancel your annuity.

It’s worth discussing your unique situation with an experienced advisor. They can review your unique situation and explore all risks and benefits.

Why Choose CW Settlements for Ohio and Michigan Structured Settlement Annuities?

At CW Settlements, we tailor all structured settlement annuity planning on a case-by-case basis. We provide individualized advice about your available options. Then, we can create a custom plan and protect your eligibility for government benefits. We can guide you through the complex settlement annuity process, maximize your tax advantages, and coordinate with other aspects of your financial planning goals.

Hire Structured Settlement Annuities Services at CW Settlements Before you lock in your settlement terms, consider hiring structured settlement annuities services. If you’re an attorney or a claimant, contact the experienced team at CW Settlements today to discuss your available structured settlement options.