National Structured Settlements Trade Association (NSSTA)

Several surveys out in the past week show just how nervous and unprepared Americans are about retirement and especially rising healthcare costs.   

First, a University of Michigan survey concluded that about one in five U.S. households owe more on credit cards, medical bills, student loans and other debts that aren't backed by collateral than they have in savings.

Financial security during retirement is a serious concern.  For those who have been injured and who may have long-term medical expenses, it’s an especially important concern.

For those worried about retirement security, a structured settlement offers several financial advantages including:

Julie Brook, Legal Editor at the California Bar’s continuing education website, just posted this interesting blog, “5 Questions to Ask When Considering a Structured Settlement.”  

Her blog is based on information about structured settlements in CEB’s California Civil Procedure Before Trial (chapter 49).  An excerpt:

Two longtime structured settlement consultants have been elected to the Board of Directors of the National Structured Settlements Trade Assn. (NSSTA), the association announced today.  The two are:

John McCulloch
Vice President of Advanced Marketing for Integrated Financial Settlements Chicago, IL

Daniel Goodman
Managing Director of Mesirow Financial Structured Settlements Chicago, IL

Noreen Seebacher is a well-known business writer and Community Editor at Investor Uprising, a website billing itself as a “no-nonsense guide to global business trends and investment ideas.”  A journalist for more than 20 years, she recently wrote about a major financial decision from 1994: her decision to resolve her daughter’s injury with a structured settlement:

“[Eighteen] years ago, my youngest daughter ended up in an emergency room after threads inside her infant sleeper cut off circulation to her toes….

"Someone considering a structured settlement should appreciate the important legal safeguards for those future payments.  State regulators nationwide have a strong record of enforcing the many consumer protections that help guarantee a structured annuity's financial security.  Our commitment and today's updated laws offer exceptionally effective financial security far into the future.”

According to a Virginia report this week, a structured settlement helped resolve lawsuits involving two girls injured when a truck ran into the car in which they were riding.  According to the report, the accident left both daughters with brain injuries requiring extensive medical treatment, neuropsychiatric help, and therapy.  For one daughter, the expenses will continue for the rest of her life.