Are You Deciding Between an Annuity Payment Schedule and a Lump Sum Payout?

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Lump sum versus annuity

It sounded like such a good idea at first. Along with your partner, you agreed to a structured settlement payment plan when you won a personal injury lawsuit two years ago. The doctors said you are able to work 20-25 hours a week and your partner is working full time so that is how you get your insurance and other benefits. The annuity settlement, paid out over 15 years, would help you pay other expenses, as well as pay off credit card debt. Once the credit card debt was taken care of the plan was to start making extra payments on your house loan. That was the plan. The problem is the plan is not working. At the end of every month you are still struggling to make all of the regular payments so the credit card debt, while not getting any bigger, is not getting any smaller either.
Making the decision between taking a lump sum of money or accepting payments over an extended period of time, whether for lottery winnings or insurance settlements, is not an easy choice. The difference between annuity vs lump sum lottery winning payments, for example, is the difference between putting yourself on a monthly budget and paying yourself up front. Often, it just makes sense to work with a company that has a proven track record for buying an annuity with a lump sum.
Making the decision to take an “immediate” annuity, you can generally start receiving payments in about 30 days. Some companies even offer pre settlement loan benefits if you need your money faster. A company that is known for buying an annuity with a lump sum allows you the chance to immediately pay off any high interest credit card debt that you have and also allows you to make the change you most want to see in your life.
What is it you would like to do if you had access to a large amount of cash? Would you buy your family a home in a better neighborhood with better schools? Would you take your family on a dream vacation to a tropical island? Or, Would you take the money and finally do what you have always wanted and get a college degree in nursing? If you agree to work with a company that is known for buying an annuity with a lump sum, all of your dreams become possible.
While selling off an annuity can cost surrender charges of up to 10%, nearly 92% of clients who sell their structured settlement are satisfied with their decision. What are you waiting for? Take steps now to begin the process of selling your structured settlement payments and get the entire amount of money that is yours right now.


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