Auto Insurance

John.D

Member

When accidents occur, whether an auto accident, slip and fall, medical malpractice, wrongful death, or any other non workplace related injury happens, structured settlements are often set up with insurance companies to pay for these tortious acts. People who are in involved in personal injury or insurance related cases elect to receive a series of payments over a substantial period of time rather than receive an immediate lump sum payment. These payments typically total more than the amount a person would have obtained for an immediate payment. The injured party(Plaintiff) goes through a process whereby they elect to take this protracted payment, and sign off on a "Settlement and Release Agreement" allowing the Insurer(Defendant) to purchase an annuity policy on the insured's behalf that would provide for monthly, quarterly, or yearly payments to the injured party, who now becomes what is called the Annuitant.
Z

With the advent of new 2002 Federal Laws, and further State Protections, the injured party now has the right to get cash for their structured settlement by selling this annuity stream to an independent third party if he or she so desires. These periodic payments that flow from an insurance company annuity contract(called a structured settlement), may be
transferred at anytime in the future for a lump sum today, but great care should be taken to ensure that the injured party obtains a proper court order. The reason for the court order is one of protection for the injured party, and that protection is twofold; first to protect the annuitant(injured party) from an unscrupulous transaction, and secondly, and just as important in our opinion, to preserve the tax free nature of the transaction. Without obtaining a court order, the proceeds received would be completely taxable, a frighteningly foreboding scenario.

The structured settlement holder should be aware that these annuity sales have specific legal guidelines that differ from state to state. These specific elements must be adhered to strictly in order to complete the transaction. Typically, the injured party receiving the payment stream must execute(sign) a new transfer and assignment agreement disclosing all contractual terms and the price to be paid.

At this point the injured party may be wondering how difficult it is for them to get cash for their structured settlement, since the procedure seems complex. In fact, the sale of a structured settlement annuity is a simple, straightforward process that any institutional funder has done thousands of times, and will handle all the paperwork properly. The only thing the injured party need do is make certain they provide the funder with the proper paperwork required in a timely fashion. This process is really a simple cookie cutter transaction. Once in court, the potential sale is announced to all interested parties and then is submitted to the court for their approval.

Bear in mind that this procedure is a process, and typically will take at least 90 days to consummate. In order to expedite the process, the injured party needs to make certain that they respond immediately to requests for information and paperwork from the funding party. The institutional funder should have a vast knowledge of the structured settlement business, and have consummated numerous transactions, and offer you referrals. This is for your protection and an acknowledgement that all proper legal guidelines will be adhered to. If your structured settlement company doesn't meet these requirements, use someone else.

Can you get cash for structured settlement? Yes. Provided your follow these easy guidelines.
 

Omar Momani

New member
I wish to buy a car soon from UAE and get it registered there for my use. After quite research I ended up with few car insurance companies. I want the best motor insurance online. I have attached link to my spotted one in former line. Can anyone help me out. I need off road coverage also.
 

Omar Momani

New member
I can say I have selected the best car insurance policy in abu dhabi because after quite reviews I found Tameen or Oman insurance company offers excellant covers in affordable price.
 

jhon paul

Member
Yes I have gone through your post on the topic that you have shared Auto insurance is a contract between you and the insurance company that protects you against financial damage to the car in the event of an accident or the theft. In exchange for your paying a premium, the insurance company agrees to pay your losses.And Auto insurance provides coverage for property liability medical .
Property:is nothing but such as damage theft to your car
Liability: your legal responsibility to others for bodily or injure property damage
Medical: The cost of treating injuries sometimes lost wages and funeral expenses
if you want to claim the loss of damage then the auto policy will cover you and the family members on your insurance policy, whether you are driving your car or someone car....
 

Mandy96

Valued Contributor
Auto insurance is mainly for car owners especially for the high cost ones. If you happen to have the chance to get this. You should know that there are some certain policies under it and they gave it some actual functions and limitations attached to each of the plans so this is way more important for a client
 

btaliat

VIP Contributor
Auto insurance is necessary for all vehicles users. There is possibility of having the car damaged if not through accidents, it may be as a result of bad road and some other ways by which the car may be damaged. But the driver will be worry less if he's covered by the insurance.
 

Chibson

VIP Contributor
Anyone who is into transportation business should make sure that he or she has an auto insurance premium because it is very necessary for coverage and safety. I have someone who run the business of years ago but made the mistake of not buying an insurance premium. Those cars are nowhere to be found today because they were damaged.
 

Nite

Valued Contributor
In case your auto is damaged due to an accident, fire, theft or any other reason, you are protected through auto insurance policy. It also offers a personal accident cover for a pre-determined amount, which provides protection against permanent total disability, and death due to an accident. Having an auto insurance will give you a complete peace of mind.
 

btaliat

VIP Contributor
Auti insurance is of two versions in some instances, there is one that only covers for the damaged done to the insured cars by another person. And there is another one that caters for the damages done by the insured car to the another car or even some public utilities
 

Wisdom01

Valued Contributor
Auto insurance scheme have various risk under it , you can insure your car against fire , accident , etc, it all depends on the risk you actually want to choose to insure it against , many have made use of auto insurance policy to get coverage for their vehicles and others against any form of incidents
 
Top