Annuities
What are Annuities?
An annuity is a fixed sum of money disbursed in intervals over an agreed period. An annuity is usually set up to ensure a consistent income stream over a long period. Annuities are used as payment plans for a variety of purposes.
These purposes include legal, medical, retirement, disabilities settlement, among others. Annuities help you to keep to a financial timetable that keeps you out of a financial wormhole in the long run.
Any other long term income stream can also be converted into an annuity, especially if it has to do with inheritances. An annuities beneficiary will receive a stipulated amount of money once in a year for each year until the contract expires.
Why Sell your Annuities?
The sale of annuities is one which we have discussed with hundreds of clients over the years, and it turns out, in most cases, that the beneficiary is usually better off selling off their annuities than holding on to it.
Many people are in this shoe because of the time value attached to monetary funds. Over time, the value of your annuity might not be in your favor, given the constant fluctuation of monetary value. The worth of your annuity payment is bound to reduce over the years; therefore, it’ll be in your best interests to take a critical look at your options given the value which your annuities payment can earn you as cash at hand at the moment.
Selling your annuity payments will help you to convert future payment streams into a lump sum of money, money that you can use in offsetting current bills. Many our clients are usually open to selling their annuities payment to pay for college for a kid or for a major surgery that requires urgent cash, selling their annuities for a lump sum gets them this cash faster than any other process.
If you have suffered any forms of hardships as a result of the death of the deceased, then you’re also viewed as a “party in interest.” The three categories of people who are allowed to sue for a wrongful death claim are;
Express Funding Of America LLC
Is prepared to take you through the process of selling your annuities for cold hard cash so you can either;
Pay urgent tuition
Medical expenses
Any other immediate expenses
Care to Know about the Types of Annuities?
Single Premium Annuity
The first and most popular type of annuity is the single premium annuity. It is further divided into the Single Premium Immediate Annuity and the Single Premium Deferred Annuity.
Single Premium Immediate Annuities
More Info
· Single Premium Immediate Annuities are usually purchased with a one-time payment. The buyer begins to receive their payment a year after the annuity purchase which they can take out with their savings, inheritance or personal savings.
This type of annuity is commonly taken out by people who do not have any urgent need for money but will require subsequent expenses to cover in the nearest future.
Single Premium Deferred Annuities
More Info
· Single Premium Deferred Annuities are very similar to the single premium immediate annuities. They are also purchased with a one-time payment which a buyer takes out of their savings, inheritance or any other source. The only difference lies in the fact that SPDA’s payments are not received after one year of purchase but at a later date.
Immediate Annuities are taken out within one year of purchase as earlier said, and the buyer is given free rein as regards the payback timeframe and the receipt of a consistent income stream.
Deferred Annuities, on the other hand, just like the name suggests it can be deferred to a later date until the buyer is ready to start receiving their payment.
Have you heard about Annuities Payment Structures?
One of the most important factors to consider while selling off your annuity payment is the payment structure that you’ve chosen. There are numerous types of annuities payment structures, but they all depend on a large number of factors, including the performance of the economy, which is very vital.
A considerable number of annuities usually fall into either one of the two general categories, which are; Fixed and Variable Annuities.
Insurance companies usually fund fixed Annuities. Payments from a fixed annuity are generally set in every sense of the word, and they remain the same over some time.
Variable Annuities, on the other hand, are usually funded through investments, and this makes them very susceptible to fluctuations as is familiar with investments. The payments from this type of annuity may vary over time with the variation.
It is a common practice for lawsuits to end with structured settlements, which make it easier for both the plaintiff and defendants to keep to their ends of the bargain.
Your annuity payment structure plays a significant role in the sale of your annuity; therefore, it is quite crucial that you contact us today before making any decisions regarding your annuities. We are well-versed in this turf and will help you make the right decisions today.
There are also other notable types of annuities such as:
Life Contingent Annuities
Guaranteed
Variable Annuities, on the other hand, are usually funded through investments, and this makes them very susceptible to fluctuations as is familiar with investments. The payments from this type of annuity may vary over time with the variation.
It is a common practice for lawsuits to end with structured settlements, which make it easier for both the plaintiff and defendants to keep to their ends of the bargain.
What do you Gain from Selling your Annuities?
Holding some source of money for an extended period might seem like the best decision in the long run, but not if your annuities are not enough to cover your current spending expenses.
Purchasing an annuity plan that works ideally five years ago does not automatically mean it’ll work correctly in today’s circumstances. A colossal debt portfolio or tuition fee will be hurt very badly if you decide to stick to your annuity plan, and you might not be able to make worthy investments as needed. Selling your annuities, on the other hand, helps you stay ahead of your finances and enables you to stay afloat as you make financial decisions with the lump sum you get in return.
Why should you make that decision today?
Do your financial needs change over time or have been conditioned to a routine which cannot change?
Do you want total control over your assets and financial life?
Is taking out an Annuity plan your best option at financial stability?
Give us a call today, and our representatives will walk you through the process with ease.