Structured settlement

{
  "id": "MLC-T-INS-003213",
  "term": "Structured settlement",
  "field": "Insurance and risk management",
  "definition": "A financial arrangement arising from a legal settlement where a claimant receives compensation as a series of periodic payments over time rather than as a single lump sum. These payments are funded through the purchase of an annuity from a life insurance company, which guarantees the payment stream for a specified duration or for the claimant's lifetime. The periodic payments received for personal physical injury claims are generally exempt from federal and state income taxes.",
  "url": "https://mlchart.com/terminology/insurance/structured-settlement/"
}