Category : IPA
By AFG Newswire Sept. 17, 2014 9:30 p.m.
Want to Sell Your Structured Settlement; Need too Much Future Medical Help?
Do you have your own health insurance? Is it sufficient to cover those future medical expenses? These are the types of questions and more that an independent professional adviser will ask you to help you assess whether or not you fit the criteria to be “granted” in court.
If you attempt to sell your payments, and get denied, it goes on record. Best to be as prepared as possible.
California Insurance Code 10139.5(b)(7) states “Whether the payee is, at the time of the proposed transfer, likely to require future medical care and treatment for the injuries that the payee sustained in connection with the incident that was the subject of the settlement and whether the payee lacks other resources, including insurance, sufficient to cover those future medical expenses”.
This clause is part of the “best interest” of the payee criteria the judge uses to see if it is in the “best interest” of the payee to sell their future payments. If the judge finds that it is not in your best interest, the sale does not go through.