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  1. #1
    Join Date
    Oct 2007
    Posts
    5

    Default Settlement With An Annuity

    My employer has offered a settlement with an annuity and open medical for life. They are the owner of the annuity.

    I know that the annuity provides monthy payments for life, but I could die the day I sign it. They are paying a good amount for the annuity (an amount that was no way near what was ever offered me).

    My ? is - Do you think I could counter offer with the amount with the amount that they are paying up front and the amount they are paying for the annuity? If they are willing to pay it to an insurance company they should be willing to pay it to me. I know that I will owe more in attorney fees - but I feel like I would be more in control.

    As for the medical - I guess I will under them for life. They do not want to do the medical set-aside.

  2. #2
    Join Date
    Oct 2006
    Posts
    9,108

    Default Re: Settlement W/Annuity

    how much can you customize the annuity payout?
    you should have a certain amount guarenteed so any dependents get something if you do die early? what about lump sums and/or inflation factors?
    i'm not sure what the incentive is for them to pay you a disability lump sum now if they still have to keep the case open for medical unless you offer a very generous discount.

  3. #3
    Join Date
    Oct 2007
    Posts
    5

    Default Re: Settlement W/Annuity

    The proposal is my attorney says it is a good deal - but I'm not sure who he's been rubbing shoulders with

    They are paying me the amount that they are paying me in TT for life (there will be no increase)

    Open medical for life

    They are paying attorney fees up front

    This is in place of applying for permanent total - they say it is basically permanent total

  4. #4
    Join Date
    Oct 2006
    Posts
    9,108

    Default Re: Settlement With An Annuity

    It's obviously not the same as permanent total or they'd do it.
    there is difference. You should know what the difference is.

    you might find out more about permanent total and the differences from the guidebook
    http://www.labor.ky.gov/NR/rdonlyres...dGuidebook.pdf

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