What Is Settlement

Some one tell me actually what does settlement mean. specially annuity settlement. I would be very thankful.

Settlement

 

A settlement is usually an agreement between two or more parties to settle or come to agreement on how to end their dispute. Civil cases filed in court usually end up in a settlement which sometimes involves the payment of money from one party to another.

An annuity settlement is usually where one party agrees to fund an annuity as part of the settlement. For example, if I was in a bad car accident and needed medical assistance for the rest of my life, I might agree to an annuity settlement that paid me $100,000 every year for the rest of my life. The insurance company or whoever is on the other end funds that annuity by buying the annuity with a lump some of money.

Nowadays there are tons of companies that will buy your annuity payments and give you a lump sum of money in return. It is almost always a bad deal to do that, but people want lump some of money so they make the deal anyway. That is why you see tons of companies advertising to buy annuities or settlements or lotto payouts etc.

 

I suspect that you might be talking about a settlement letter sent by a company such as Getty Images for using an image without paying for it. Is this the case? If so, I can explain it better.

 

Since he asked specifically about an "annuity settlement", it is almost assured he is not wondering about a demand letter from Getty or some similar company.

 

Good point. Unfortunately most discussions on forums I see nowadays regarding "Settlements" are these types of demands from companies such as Geddy. Your explanation hit the nail on the head.

 

I am assuming it is someone who is curious about the high paying settlement annuity niche but has no clue what that was. But, who the heck knows what he meant or was asking.

 

hey friends
An official agreement intended to resolve a dispute or conflict: "unions succeeded in reaching a pay settlement".