Structured Settlement
Periodic payments to an injured person or survivor for a determinable number of years or for life typically in settlement of a claim under a liability policy. Terms may include immediate reimbursement for medical and legal expenses and rehabilitation, and long-term payments for loss of income or as compensation for other injuries. A structured settlement can be expected to be less costly to the insurance carrier than a lump sum settlement, especially if it enables costly litigation to be avoided.
Popular Insurance Terms
Procedure in which investment income is paired with each life insurance policy according to the time frame in which the premiums for that particular policy are received. ...
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Specified limit on the dollar amount of coverage for a given loss. ...
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Continuing on an indefinite basis. ...
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