by John Darer CLU ChFC MSSC CeFT RSP CLTC
Structured Settlements For Minors News
In 2015, Aly Rednour suffered serious injuries when her knapsack got caught in the closing door of a Jefferson County Public Schools bus and the bus took off, dragging her nearly 1,000 feet. Rednour, a special needs child, suffered “disfiguring” scarring and nerve damage from the incident.
Travelers Indemnity Company, an insurer for Jefferson County (Kentucky) Public Schools agreed to pay the family of Ally Rednour nearly $5 million, according to the settlement agreement [ Source: Louisville's WDRB News March 9, 2022 including a video of the incident and an interview with the Bo Bolus, the Louisville personal injury lawyer who represented the family. The case settled last year, but was only just published.
More than $2.7 million of the settlement was paid in an up-front lump sum to Aly's family and their attorneys, according to the settlement agreement says the report. The rest will be structured with $793,792
going to MetLife Assignment Company to fund a structured settlement annuity with Metropolitan Tower Life Insurance Company which will finance a trust fund through March 20, 2038, and $1.3 million will be paid to BHG Structured Settlements to continue funding the trust from April 1, 2038, until March 20, 2088 according to the report.
Structured settlement annuities are excellent settlement planning tools to provide cash flow certainty where there is a need for certainty.
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