2007-11-26 11:42:38 · 2 answers · asked by twalla128 5 in Business & Finance ➔ Insurance
You won't get any money unless you already have a judgment against a valid source of money (i.e. an insurance company).
If you already have a judgment, the insurer is going to pay as agreed in the judgment. These programs are mostly designed for accident victims who have an agreement of a 'long term payout' from an insurer (a certain amount of money annually over a specified period of years).
One can engage an 'advanced settlement' place to get a lump sum in return for the advanced settlement offeror taking the payments as initially agreed in the settlement. However, one will also pay a VERY hefty premium for getting all that money upfront.
2007-11-27 00:33:59 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
Yes, it's a myth.
There's no money, unless there's both a SOURCE of money, and a judgement.
And most underinsured people are darned hard to collect from.
2007-11-26 13:15:57 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋