Structured settlement terms are unable to be renegotiated once the annuity contract has been issued. For some, this means not being able to access their money when they need it.
However, for those who have a financial need, there is a way to access their funds by selling payments. The structured settlement secondary market emerged because people wanted a way to sell future payments for a lump sum today. So companies now exist which buy structured settlements in exchange for cash now.
As with any major financial decision, the choice to sell should be something you carefully consider. Federal and state regulations requires the sale of structured settlement payments to go through a judge to ensure it’s in the best interest of the person selling.