«

»

Dec 06

What Are The Benefits Of Incremental Payment Plans?

The world of compensation payment is changing, gone are the days of lump sum payouts, and incremental is the buzzword of the day. Insurance companies are dead set on insuring payouts are made monthly nowadays and mask this under the mirage of due diligence.Money in Hand

They feel that it is the responsible thing to do and can maximize the customer benefit of the money, something I totally agree with. There is nothing worse than having access to a lump sum of cash, obviously it is fundamentally fun, but you just don’t know what to do with it.

It is like the age old adage about the lottery winner, are wants insatiable? Or do our desires change with the amount of money we have and therefore can we ever be happy? These are deep philosophical questions but the do apply to compensation.

I don’t think we should have the chance to decide, getting the money each month ensure you are comfortable and if you really are dead set on having a lump sum of cash at your disposal then save it in a different account and then after a year or two you will have access to the whole amount any way.

There are other options out there too and benefits, all of which will be addressed further in this article.

Flexibility

This may seem a little different to the traditional school of thought but having the chance to incrementally receive your money gives you day to day flexibility. To many this will seem annoying and not beneficial, taking the view that compensation is there to be spent on things that you otherwise wouldn’t have been able to do.

However if you are comfortable financially each month then you can enjoy more things on a regular basis, and this will in turn ensure that you can treat your family members to the things that actually matter.

Selling a structured settlement for money is certainly an option and there are companies out there that provide for that, but is it really worth the risk? Fair enough a lavish holiday will be great, but it just isn’t sustainable and that will in turn result in dissatisfaction in the future when the money you have will be gone.

It is about striking the balance between what people want and what people need, the latter to me carries much more weight.

If you do sell your settlement,you should look at investing the money; use websites like Dealmarket to help you do this.

Security

If you are looking to use the money to ensure your financial stability in the long term them it is important that you stick with the incremental plan. There are many benefits of this and the most important benefit is that you can have that little bit of extra cash each month for your own benefit. You can help with your children and provide them with all they need.

Sustainable

It is a sustainable thing receiving the money each month. There are so many people out there who are volatile with large sums of cash and thus dripping the money into your account each month can be the best way to reduce responsibility.

We live in the internet age and there are many things online that you can invest in if you want as well as save in a different bank account. Just do some research but in my opinion there are many different benefits of incremental payment plans.

Featured images:

Andy is an author with wide ranging industry experience. He has a journalism background and a very unique style of writing, he writes several articles each week for high profile companies.

1 comment

  1. orenkomp.ru

    Increases property values. TIF redevelopment projects are an investment that causes property values to increase thus broadening the tax base and benefitting everyone who pays taxes.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

What is 2 + 10 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)