Disadvantages of Structured Settlements

Although structured settlements can have many advantages over lump sum settlements, they are not for everybody. A problem that some people have with structured settlements is that they may agree with the original settlement details but then change their mind later or have changed medical or living circumstances that necessitate a different distribution of money.

Unfortunately, once a structured settlement is decided upon, it cannot be changed. However, most people can avoid this kind of problem if they carefully evaluate their present and future needs with the help of legal and medical experts. By anticipating their evolving needs and significant future life events, claimants can ensure that enough money is always there when they need it. However, a structured settlement may not be suitable in some cases in which future medical needs cannot be clearly anticipated, such as the case of a disorder or injury with an uncertain course.

Another issue for some people is that they may end up with a larger net settlement if they invest the money themselves and allow funds to accrue over time. While this is certainly the case for financial experts who end up having to choose between a lump sum or structured settlement, most people will probably not make substantial investment income with a lump sum settlement for two reasons: first, many people overestimate their investment abilities, and second, it is difficult to avoid squandering money when you have a large lump sum available.

A fact that many claimants don't realize that can help them determine whether to take a structured settlement or to invest a lump sum themselves is that the money you will receive in your structured settlement is actually already being invested by financial experts. Your net settlement will therefore increase based on the investment skills and experience of a large body of experts. Your only loss comes from commissions and fees for the brokerage company and financial experts. For this reason, most people will not be able to do better by investing the money themselves, although each case is different.

Read More

Advantages of Structured Settlements

There are many advantages to selecting a structured settlement over a lump sum award. Most importantly, a structured settlement is guaranteed to provide for the future needs of the injured party. In fact, most of the time, a structured settlement will provide for the personal and medical needs of an injured person for their entire lifetime. Lump sum awards, on the other hand, often end up being squandered through poor investment strategies, overuse, and the ups and downs of the stock and investment market. The American Association of People with Disabilities endorses structured settlements, arguing that they can be the best and safest means of making sure an injured person who wins a tort case is provided for throughout their lifetime.

A second advantage of the structured settlement is the unique way it is handled by the tax code. Most of the time, annuity payments are untaxed, meaning that more money makes its way into your pocket. Lump sum payments, on the other hand, can incur a substantial tax burden.

Structured settlements are also highly flexible. In fact, no two structured settlements are the same, because each one is arranged to take into account the specific present and future needs of the injured party. For example, some people will want to receive a small annual sum, while others may want to receive several larger sums distributed every few years or arranged around significant life events. Structured settlements can also be arranged to provide more money for the claimant later in life or more money as the claimant's medical condition worsens. There are no limits to the different possibilities of the structured settlement, because it is a private arrangement between claimant and defendant.

Finally, structured settlements have a number of unique advantages that end up increasing the net amount of award money for many people. For example, your money cannot be reduced by divorce or the receipt of social security. In addition, you may end up netting a larger award because you have to pay out less for lawyer and court fees incurred during a lengthy court battle.

Read More

How to do Cheap Auto Insurance!!

As a car driver you probably want to get the cheapest auto insurance online. Lets face it, there is no need to be over spending on something that you can get for dirt cheap, right? Unfortunately for many drivers out there, they always seem to get hit hard when they receive their monthly insurance premium bill in the mail.

And many car drivers that are in the same shoes as you are actually paying at least 25% more than what they are supposed to pay on their car insurance. And not until they decide to take action years later to get cheap auto insurance at the right places, they then realize that they have been throwing thousands upon thousands of dollars out the window.

So in order to help you get the cheapest auto insurance online, here are a few tips that you can take advantage of so that you can finally get the cheap auto insurance that you deserve.

1. If you want to get the cheapest auto insurance online, make sure that you take a look at your dmv record. In some rare cases there might be errors in your record. Your car insurance company usually goes off the information that is given to them from the dmv. If there happen to be invalid claims and accidents that you had no idea was on your driving record, you will find yourself paying a lot more than you should to the tune of thousands of dollars on car insurance.
2. Take advantage of websites that offers multiple quotes all in one place. These types of car insurance websites gives you multiple quotes from affordable car insurance companies after you enter the basic information needed only once. Not only are these types of websites time savers, they are money savers as well.

By taking advantage of these two suggestions today, you will be on your way to getting the cheap auto insurance that you deserve.

Read More

National Auto Insurance Rates Rise by One-Fifth of 1 Percent

 

The Bureau of Labor Statistics (BLS) on Wednesday released the latest monthly update to its Consumer Price Index (CPI) report, which indicates that Americans saw motor vehicle insurance prices in May that were 0.2 percent higher than in April.

According to the report, May 2011 car insurance policy costs were 3.8 percent higher than in May 2010.

The upward trends in premiums are similar to those of all items documented in the CPI. Between April and May, prices for all goods rose by about one-half of one percent. Between May 2010 and May 2011, the prices for all goods rose by about 3.6 percent.

[Check out "BLS: Price of Auto Insurance Rose Slightly from March To April" to read the article on last month's report]

About the BLS’s Motor Vehicle Insurance Price Index

The BLS publishes monthly CPI updates meant to track and give data on changes in inflation and the cost of consumer goods in America over time. The CPI data referenced here to compare auto insurance prices are representative of coverage costs for an estimated 87 percent of the U.S. population.

Policy-price data compiled in the CPI is collected from a sample of insurers in 87 pricing areas. Premium levels are determined by looking at a sample of 768 individual private passenger policies or quotes. The CPI actually tracks the costs of these policies over time. Changes reflect fluctuations in insurers’ premium-calculation formulas, as well as increases in state-mandated minimums for coverage.

According to the BLS, “The major types of coverage included are collision, comprehensive, bodily injury liability, property damage liability, medical payments, uninsured motorist and personal injury protection.”

Read More

How to Sell Your Structured Settlement

As you may know, it is possible to receive a lump sum from your structured settlement so that cash can be available now, for example, to purchase medical equipment or a handicapped vehicle. But how should you go about selling your structured settlement, and how do you get the best deal available?

First, it is important to get your own lawyer to help you through the structured settlement sale process. They will be able to examine potential contracts and make sure that you get the best deal available. In addition, when looking at companies who buy structured settlements, only work with companies with an established reputation.

Make sure to compare offers from several companies before deciding to sell your structured settlement. In general, companies will end up profiting in some way from your settlement, which means that you will likely not profit. But in many situations, what is most important is getting your needs met, which means that a small loss is acceptable. You can end up making up for the loss at least partially with sound investment strategies later on. Do make sure, however, to examine each offer in detail to make sure your loss is minimal.

You should also be aware that if you live in some areas, there will be some restrictions on settlement sale. These restrictions vary from state to state. In general, you will need to get court approval for the sale, and other aspects of the sale will be regulated as well. There also needs to be some cooperation with the annuity issuer (the company that issued your original structured settlement) who may have specific policies governing the sale of settlements.

Finally, make sure to consult with an accountant about what kind of tax liability will be incurred upon the sale of your structured settlement. In many cases, even though structured settlement payments are not taxed, the sale of your settlement will be taxed as any other receipt of a lump sum of money would be.

Read More

What Is a Structured Settlement?

 

 

Sometimes when a plaintiff settles a case for a large sum of money, the defendant, the plaintiff's attorney, or a financial planner consulted in association with the settlement, will propose paying the settlement in installments over time rather than in a single lump sum. When a settlement is paid in this manner it is called a "structured settlement". Often the structured settlement will be created through the purchase of one or more annuities, which guarantee the future payments.

 

 

A structured settlement can provide for payment in pretty much any schedule the parties choose. For example, the settlement may be paid in annual installments over a number of years, or it may be paid in periodic lump sums every few years.

Read More

5 Factors to Determine your Car Insurance

 

Here are the top 5 factors that affect car insurance premiums:

• Gender:  like age, there is really nothing you can do about this. Men are generally perceived to be the potential dangerous drivers and not the females. hence, females get lower rates.

• Age: younger drivers, particularly teenagers, receive higher premiums for nothing else but age. Inexperienced drivers also receive this because their not yet considered mature with their driving. There is really nothing that can be done about this: you get older, you get better at driving and your rates will eventually go down.

• Type of Vehicle: we would all love to cruise around on a Pontiac Solstice or Porsche Boxter but you wont believe the kind of rates these kinds of cars get. If you want lower premiums, get a car with a lower price.

• Auto Insurance Companies: now this is something you can control. Despite the determining factors, some companies just offer lower rates than others. Its up to you to choose.

• Driving Violations: this is another thing you can certainly control. While it may be so tempting to race around town upon getting your license, a police ticket is not worth it. It may be a single ticket, but it can do wonders to your insurance premiums as insurance companies keep track of your driving record.

Read More

A Beginners Guide to Property Investment

Property investment has greatly increased in popularity over recent years. Lenders offering tailored mortgage products have helped feed this ever-growing industry. Many individuals, groups and companies are now being advised to invest in UK and Overseas property as an alternative to using conventional pension funds. Amazing returns on investment have been realized. Rather than making a profit on the capital you invest, the use of mortgages allows profits to be made on the full property value with comparably minimal capital outlay.

It is plain to see how just one of the above factors would be sufficient to stir great interest in property investment.

No matter what your reason is for choosing property investment, there are several crucial factors to consider before searching for the right property.

There are many methods which can be applied to property investment, dependent on your goals and what you want to achieve. Without going into further depth and variation, this can be broken down into two general aims:

1. Buy to Sell – Buying and selling investment property within the short term for profit.
2. Buy to Let – Buying and letting to achieve a rental income and accumulate equity, normally over the mid to long term.

It is important to decide which route to go down, as this will very much depend on the property most suitable to invest in and how best to set this up.

Property investment can be extremely rewarding but should only be entered into with due care and consideration. There are many crucial factors to consider which will determine which direction you will move in when considering the endless property investment possibilities.

Careful consideration must be given to location. You must decide if you wish to invest in your local area which you may be more familiar with, or invest in a current “hot spot” which may provide more attractive investment options.

The more adventurous investor may be interested in overseas property investment. A great deal of care and research should be given to any investment property proposition, particularly when looking overseas where the purchase process, tax liabilities, etc. could be very different to the UK.

Property price must also be considered, with widely varying properties available at all levels of investment. Investors tend to be guided by the capital they wish to invest in any one property.

A mortgage broker or lender will be able to advise you on how much you can borrow to invest in property, along with any further costs or fees involved. A Solicitor can also advise you on the legal costs, disbursements (local search fees, etc.) and stamp duty cost if applicable.

Once these factors have been considered, the next step in property investment would be to search for suitable properties and undertake the essential research to minimize risk and maximize profit.

You can never do too much research. Speak to local agents to get feedback from the perspective of property professionals.

Properties which are ideal for investment will inevitably sell quickly. Time consuming research can unfortunately result in astute investors missing out on some great investment opportunities. The internet can be a great place to carry out a large portion of the required research in a fraction of the time.

The above serves well as an introduction to property investment and the first steps which should be undertaken. By gaining a good perspective of your goals and aims and by not deviating from your chosen investment plan, you should form a solid basis for successful property investment.

Read More

Home Insurance – Where to Start

Picking the right insurer for your home can be a daunting task especially if you’re a new home buyer with no prior experience. There are so many providers out there with such a vast range of insurance packages, it’s difficult to tell which is the right plan just for you.

Fortunately the internet makes home insurance shopping much easier especially with sites like InsWeb for the US and Money for UK residents. InsWeb provides a free database  which offers quotes from up to 8 insurers and the UK Money site provides up to 20. They are basically search engine comparison sites so you can access quotes from one location without having to hop from one insurance site to another.

There’s also an article on the CNN site under the money section which I recommend reading that discusses the top things to know about insurance. They even provide some other good articles worth reading pertaining to home ownership in general.

Insurance coverage and requirements also vary based on which state and country you live in. For example, I live in San Francisco which is very earthquake prone so an optional earthquake insurance option is available. Others who live in the mid-west are prone to hurricanes so their insurance will be more expensive.  Regardless of your location, it’s always important to seek out and find at least 2-4 quotes before making your decision. Not only will you save money but you’ll also have peace of mind knowing that you didn’t just select the first insurance plan you came across

 Good luck in your search!

Read More

Progressive Insurance Co. Launches Hiring Blitz

Auto insurance provider Progressive announced this week that it has plans to hire a total of nearly 400 people by the end of next month.

The car insurer will be spreading the new hires across four call center locations: Tampa, Fla.; Colorado Springs, Colo.; Austin, Texas; and Cleveland, Ohio.

Progressive plans to hire 110 in Tampa, 95 in Colorado Springs, 65 in Austin and 125 in Cleveland.

All of the positions to be filled are in sales and customer service. All require “a minimum of two years’ post-secondary education or two years’ work experience in a customer service environment, along with proven job stability of at least one year with a past employer.”

Progressive has been gaining customers and prominence in the automobile insurance coveragemarket in recent years.

Between 2007 and 2010, annual net premium for the company grew by about 5 percent, from $13.8 billion in 2007 to $14.5 billion in 2010.

According to the National Association of Insurance Commissioners (NAIC), Progressive was the fourth-largest writer of private passenger auto policies in 2010, trailing behind only State Farm, Allstate and Geico. The ranking was based on total premium dollars written.

Of the $165.48 billion in total private passenger policy premiums written in 2010 that are accounted for in the NAIC statistics, Progressive wrote about 7.7 percent.

Read More

list of car insurance companies

A list of auto insurance companies is a good place to start your research on car insurance providers. Be sure to check the company's ratings before you make your final decision regarding what company you will use to purchase your car insurance.

Read More

Accident Lawyers: A Great Help

We are faced with many accidents in our daily lives. Most of them do not have any major impact on the victim, but sometimes there are incidences of major injuries incurred during an accident. In case the loss incurred is of a considerable magnitude, then one needs to legally file for a compensation of the losses that could have occurred either in property or personal health.

Read More

How Life Insurance Premiums Are Calculated

Life Insurance is hard to understand, but understanding how the premiums are computed is even harder. Calculating premiums is not as straightforward as calculating premiums for other kinds of risk. Your life insurance rates are based on your health at the time you buy the policy, and that risk assessment is made by a physician. If you are not in top shape, or if you indulge in risky behaviors, the insurance company expects to pay out more benefits than if you were healthy and did not put your health at risk. That is why a physical exam is usually required before a company issues a life insurance policy.

Read More

Auto Insurance Tips – Getting the Right Help and the Best Deal

When one compares automobile insurance coverage prices, one ought to look into several insurance providers. Auto insurance is a must have if you have a vehicle such as a motorcycle, truck, van, or car. Auto insurance corporations do offer certain discounts to customers because they’re merely running digital offices or websites that only need little overhead or perhaps costs.

Read More

Get the Best Personal Injury Lawyer to Represent You

Are you looking for a Surrey Injury lawyer because you have suffered a car accident recently? A vehicular accident is usually a very traumatic experience because it leaves you with a lot of physical and psychological wounds. If the collision was a particularly bad one you might have to deal with its effects for a long time to come. The reason you need a good attorney is that insurance companies will not release compensation payments to you easily and even if they do, the amount will not necessarily cover all your expenses.

Read More

Starting Your Car Accident Claims the Right Way

The best way to get more money from your auto accident settlement is to begin your compensation claim the right way.
The following are the steps you’ll want to follow when starting your auto accident claims against another vehicle owner’s insurance:

Read More

3 Easy Ways to Increase Your Auto Accident Claims Settlements

Getting money from your accident claim is hard. Insurance companies are known to downplay the amount of your vehicle accident damages and accident injuries. Some insurance providers even fight you over how the vehicle accident occurred. This results in you feeling frustrated and getting significantly less money from your car insurance claims.

Read More

How to Obtain an Online Car Insurance Quote

Getting car insurance these days is not anymore a pain in the neck. Gone are the days when you need to be physically present or be placed on hold for an hour or so on the phone just to get an insurance agent answer your inquiries. An online car insurance quote is now readily available which you can do in the convenience of your own time and space.

Read More