Recipients of lump sum payments from the Road Accident Fund (RAF) or a medical malpractice.
Claimants require a suitable financial instrument to manage their financial payout.
To ensure the funds received meet their intended social mandate, a Settlement Trust is often the preferred option selected by advocates and attorneys to administer settlement payouts and manage the preservation of these funds.
Until now the industry has tried to facilitate these payments using existing trust structures, which have been one of the major factors affecting the flow of funds.
However, Fedgroup’s unique proprietary Settlement Trust offering has been designed from the ground up to tackle this specific issue. The Fedgroup Settlement Trust will assist Claimants or their Guardians and Beneficiaries in ensuring that they derive meaningful benefit from the funds paid out to them and provide some form of future income.
A Settlement Trust also allows the funds to cover ongoing medical care to those who are left chronically injured. It allows the funds to (near-immediately) provide quality of life for those who have diminished capacity or permanent impairments, or to cover loss of income and provide ongoing financial support to dependents or children, should a primary breadwinner be injured or killed.