There are times when it is wise to consider a structured settlement of a personal injury claim. This is usually accomplished by the purchase of an annuity on behalf of the victim by the insurance company paying the claim. A short article provides a sad example of its necessity in certain cases.
I can add a few comments.
The reason for the structured settlement annuity is to protect you as the person getting the money, from spending the money in a careless manner that jeopardizes you future financial well being.
[It can also protect you, the victim, from friends and family who may suddenly have financial needs. And, it also permits a larger settlement (over time) than may otherwise be obtainable.]
Accidents and malpractice are things you can not control. What you do, however, with the settlement money you receive is something you can.
Be prepared and be informed. Protect you and your family by finding out more about structured settlements and structured settlement annuities.