It depends on the terms of the settlement and what you and your attorney agree is to your benefit. In some cases, period payments are appropriate and advisable. We call this a “structured settlement.”
Once the total amount of present and future expenses is agreed upon, the defendant insurance company assigns the settlement to a life insurance company to issue an annuity that will provide you with periodic payments over time. Hammering out the details of a structured settlement is another process best handled by an experienced attorney.