UBS Financial Services - Structured Settlements
UBS is a Swiss financial services company that has been in business since 1862, making them one of the oldest companies we've reviewed for structured settlement services. They've only recently branched into the US structured service market, but their staff is full of experts on the issues that structured settlements cover. As a result, they are an increasingly popular choice for many individuals and firms who need to set up structured settlements or annuities.
Structured settlements usually come about through a court case or lawsuit that awards damages to a claimant that must be paid out by the defendant. Many companies and individuals choose to have insurance companies pay out the structured settlement for them, as doing so confers a number of advantages.
The first advantage to using an insurance company to handle your structured settlement payments is that you don't have to worry about the time or hassle of ensuring that the payment is sent at the appropriate times. Additionally, using an insurance company allows the defendant to save money on the structured settlement. They pay the insurance company a lump sum of cash, usually less than the amount that will be paid out. The insurance company then uses that money to generate interest and make payments, with the interest being earned covering the gap between what the defendant paid and what the insurance company will pay out, along with a small profit for the insurance company. Claimants also benefit from insurance companies handling their payments because it provides a level of confidence that they will receive their payments, and also protects them in case the defendant goes bankrupt or refuses to make the payments. As a result, everyone benefits from the system of using an insurance company to handle structured settlement payments.
UBS's structured settlement section of their webpage is rather sparse, sharing only minimal information about the team with a couple links to general resources. This makes sense when you consider how complex structured settlements can be, making it hard to provide in depth knowledge. Moreover, every structured settlement is unique, so it is impossible to establish a one-size-fits-all policy when it comes to making structured settlement plans.
Like most structured settlement firms, UBS also does not have any information regarding their rates or fees on their webpage. This is due to the unique and complex nature of structured settlements, as explained previously, but it does mean that you will have to call them for a quote if you are interested in having them handle your structured settlement payments.
UBS offers attorney fee services with their structured settlement packages, which is good because determining and paying out attorney fees as part of a structured settlement can be one of the most complicated parts of reaching an agreement. The claimant needs the money to cover damages, but lawyers also need to be paid for their services.
UBS is a good place to get a quote from if you are setting up a structured settlement or annuity, but you should also shop around to make sure you are getting the best deal possible.