What are some questions I should ask before taking an insurance settlement?

Answer by  CFERGY21 (49)

Always ask if the other party (the insurance provider) is obsolved of any financial responsibility from any future claims regarding the same illness or accident. Also ask for an agreement in writing.

Answer by  tamarawilhite (17883)

Is it lump some or an annuity? What is the management fee? What are my options if the management fee is too high? Is this insurance settlement taxable? Do I have to pay any legal costs out of the insurance settlement? What are the allowable withdrawals from the insurance settlement, such as medical expenses or buying a house?

Answer by  britt01 (292)

Always get a estimate of how it would take to replace the item. Even a second estimate is normal. Seek a lawyer's opinion if you arre not sure of what the settlement is.