2023 Structured Settlements Poll

This poll addresses:

• How comfortable are employment plaintiff attorneys in recommending structured settlements?
• From which other professionals do these attorneys encourage their clients to seek professional advice about their settlement award?
• How important a role do structured settlement brokers play in positioning the value of structured settlements for employment claims?
• How can brokers and insurers/annuity providers help employment plaintiff attorneys better understand and recommend structured settlements?

When the defendant and the plaintiff in a lawsuit agree to settle a claim, they reach a mutually agreeable settlement in which they negotiate a cash amount payable by the defendant in exchange for the plaintiff dropping the lawsuit. The money can be distributed as either a lump sum or through a series of payments over time with a structured settlement annuity.

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Lump Sum Depletion Concerns

Even though two-thirds of employment plaintiff attorneys surveyed believe their clients are financially savvy, most are concerned that their clients will deplete their settlement award too quickly.

Conclusion

With nearly 25,000 employment lawsuits filed annually in the U.S., deciding whether to take a settlement award as a lump sum or a structured settlement annuity is a critical decision made by employment lawsuit plaintiffs that can have serious, long-term consequences.