Single Premium Annuity Income
Millions of Americans have purchased annuities for life planning and a predictable income. While a steady income is reassuring, it can sometimes be a burden if you need to access a larger lump sum for potential investments or expenses.
Annuities
Many people who have or are considering annuities are concerned about credit risk. In other words, they are concerned about what will happen to their annuity if the insurance company that issued it goes out of business. While you think your insurance company may be stable, evaluating your cash options can never hurt.
Before taking any action to cancel or replace your current annuity, you should first ask yourself several questions:
- Are you ready to use the lump-sum of cash for the right reason(s)?
- Will this liquidated annuity meet your cash needs now?
- Does the return on the lump sum make fiscal sense?
Annuities may not be appropriate anymore when you have not established an emergency fund to cover living expenses for at least three to six months. Similarly, if you have not contributed to other tax-advantaged retirement accounts, such as a 401(k), 403(b), or Roth IRA, or plan to receive the money before age 59 ½. But the most common reason to convert your annuity to cash is when you are not sure you can meet planned future expenses (house down payment, renovations, etc.) with other funds.
Why Should I Sell My Annuity?
Each annuitant has different cash needs that arise from various life situations. Your settlement is your money and you need it now.
Why wait?
How Long Does The Process Take?
The process from first communication to funding differs on the jurisdiction you reside in.
The entire process from cash advance through funding is approximately 30-45 days.
How Much Do You Charge For A Quote?
Quotes are free of charge and carry no commitment. We are simply here to assist you in your financial decision.
Do You Charge Any Additional Fees?
There are no hidden costs. We are an all-comprehensive team with the ability to serve you from start to finish.
What is a Structured Settlement?
A structured settlement by definition is a form of compensation awarded to the victim (plaintiff) of a personal injury lawsuit against the defendant in a court of law. The majority of cases settle before going to a jury trial, at which time a specific amount of money is made by the defendant to the plaintiff. Often the plaintiffs’ attorney will suggest an alternate to a one time lump sum payment; a structured settlement. This type of settlement calls for payments over a long period of time to ensure the victim receives money for most of their lives if not there entire life.