In the event that you receive payment from an injury case, you can always opt to have an independent third party purchase the annuity that will then give you tax-free periodic payments for you structured settlements.
Companies can offer a specified amount of cash for a structured type of settlements through a variety of programs which allows you to gain access any valuable portion of your annuity. You might want to sell as little as a year worth of payments or you can receive a lump-sum payment while you're enjoying a portion of your monthly payment. Or you can sell your settlement for a large payment that is five or six years in the future. You can also customize an arrangement to get cash for a structured settlement based on your unique needs.
After a couple of months or years of negotiation, you'll be receiving sizable amounts of settlements. The money you get upfront is only sufficient to cover the medical expenses. The rest of your compensation is scheduled to be paid out in regular installments through an annuity over the next 15 to 30 years. If you're contemplating obtaining cash for your structured settlement, it's best to contact a good financial advisor. Most states create regulations which limit the sale of structured settlements, so you'll need court approval to receive cash for your structured settlement.
A possible downside to structured settlements is an obligation to wait for periodic payments. This takes you into a disadvantage if you want to purchase a home or any other expenses, you can't borrow against future payments upon agreement of the settlement.
One downside to this is the built-in structure, and you might not like having to follow a restricted mode of payment. You might want to purchase a home or some expensive equipment, but you'll be lacking funds because of how your settlement works. This sticks you to an unwarranted situation until the next stack of payments arrive, not a good position to be to but well, everything has its downside right?