Follow these tips to quickly sell a structured settlement

Here’s a foolproof way to speed the sale of a structured settlement: Submit all the required documents on time.

What is a structured settlement? A structured settlement is an agreement stemming from a personal injury claim that involves an insurance company making payments to an individual over a period of time. Installment payments can be structured in a number of ways to suit your needs and to protect you from inflation. They can range from a simple yearly payment to complex arrangements consisting of an initial lump sum payment, monthly indexed installments, deferred payments, and special provisions relating to the future care or death of the insured.

Of course, quick closings also depend on factors not in the annuitant’s (client’s) or transfer (factoring) company’s control - like how fast the state and court systems operate and the efficiency of the annuity issuer. It’s a fact that Illinois and Virginia process the transfer transaction faster than any other state.

But bottom line: clients can get their money faster by completing all of the documents in the structured settlement package - especially the annuity policy - and submitting them as soon as possible.

A single missing document can cause significant funding delays. On the other hand, clients can receive funding in as little as 18 days in certain states when they submit all the information requested in the structured settlement package - including the Annuity Policy.

Take the time to review the checklist included in the structured settlement package. It lists all the documents necessary to complete the transaction. If anything is unclear, contact the experts at the company buying the payments to clarify which documents are necessary to submit - and when.

The goal of a good structured settlement transfer company is to help clients receive money in the fastest time frame possible.

The quickest, easiest way to sell a structured settlement

1. Complete and return every page in the package. Clients must sign all required documents and return every document requested so the purchaser can provide the necessary information to the court and insurance company.

2. Provide a copy of the Annuity Policy as early in the process as possible. This document provides accurate and essential information to the company buying the payment.

3. Submit a copy of the Final Divorce Decree and Property Settlement (if the client is divorced) to verify whether an ex-spouse is entitled to a portion of the funds. The sooner this document is submitted, the less chance there will be delays with funding.

4. Sign and return the affidavit as soon as possible.

5. Provide all supporting documents and information for the court that explains why the money is necessary at this time.

6. Get it right the first time by contacting an expert. The professionals at the structured settlement transfer company will make sure the right documentation is submitted at the right time. This is a proven way to speed funding.

7. Submit a clear copy of the client’s picture ID. Just increase the shade settings on the photocopier to improve the image quality.