It depends on your needs. If you’re experiencing temporary financial hardship, like short-term medical bills or a loss of job you expect to recover from, then a lump sum may be a better option for your structured settlement.
But if you’re likely to be financially impacted for a long period of time, period payments could help you cover ongoing healthcare bills or loss of income. Extended payments can also provide better financial stability, especially if you think you’d be tempted to spend through a lump sum.