It’s always a pleasure and usually a bit humbling to be cited favorably in a news article. Claims Journal just posted a long article about the legal and insurance dynamics during the 1970s and early 1980s that resulted in Congress passing legislation to recognize and encourage the use of structured settlements. Titled “The Beginnings of Structured Settlements,” the article’s author is Claims Journal editor Denise Johnson, an attorney and respected commentator on insurance. I am cited twice, in my capacity as a consultant to the National Structured Settlements Trade Association (NSSTA).
For anyone who has been physically injured in an accident, the structured settlement offers unmatched advantages including the opportunity to design a stream of guaranteed payments to meet future medical and living needs. Moreover, per the federal tax code, all income is completely exempt from federal and state taxes.
As U.S. Rep. Jim Langevin (RI), the only quadriplegic ever to serve in Congress, states in the article:
I always take the opportunity to educate my colleagues on the benefits of structured settlements to injured victims. These settlements ensure that victims have enough funds not only to pay their bills today, but also in the future. They provide economic security not found in a normal legal settlement.
More information about structured settlements is available at the NSSTA website or by clicking here.