12
Apr

Planning for a Secure Financial Future with Cash for Annuity Payments

Written by Best Financial Magzine. Posted in Annuity and lump sum difference, Lottery lump sum payout, Sell your structured settlements

Lottery annuity payout

Like everyone, you have big plans and dreams. If you had the money, you would start a new business, pay off your debt, invest your money wisely, buy a new car or house, or go to college. Most people don’t have the cash to make their dreams a reality, but if you are receiving annual payments from a structured settlement or a lottery win, you may be able to get a lump sum of money by selling your annuity. Rather than leaving your money tied up in annual payments over a period of ten, twenty or even thirty years, you can access it by selling an annuity settlement. With a lump sum payment, you can plan and invest your money to ensure a secure financial future for yourself and your family.

Settlements are a popular form of payment
Structured settlements were first used in the 1950s and have gradually become a popular way of paying out large sums of money such as lottery payments and lawsuit payouts. At the present time, new structured settlements worth more than $6 million are paid each year. The value of the average structured settlement payout is $324,000.
That’s a lot of money tied up in annual payments. In 2013, annuity contracts worth more than $2.58 trillion were in place, representing a total of 34.8 million individual contracts. Money from structured settlements from various sources is used by 37,000 Americans each year. While a structured settlement gives you a secure income year after year, it doesn’t allow you access to your cash for any big expenses or even for emergencies. If you want have access to all your money so you can invest in a secure financial future, you may want to consider selling your annuity for a lump sum.

Lump sum v annuity
However, while structured settlements are a popular form of payout, they have the disadvantage of tying your money up in annual payments. You may have a large amount of money due to you, but an annuity will only give you your money in a trickle of annual payments. You may want to use your money to pay off debt, to go to college, buy a house or a car, or to invest in your own business. If you are looking to sell your annuity for a lump sum, a specialist finance company can help you gain access to your money at the best possible rate.
With a lump sum of money in hand instead of annual payments, you control your own money and make decisions about how to best use it for a secure financial future. As many as 92% of people who sell their structured settlement have reported that they are satisfied with their choice to get their money in a lump sum.

Choosing the right company to sell your annuity
A speciality company with expertise in institutional funding, underwriting, and law, and strong relationships with national banks can help you get cash for your annuity, at the best possible rate. They should be able to answer any and all questions you have about the amount you will receive, taxes and other payments, how long the process will take, etc. They should present you with the pros and cons of the different options open to you, and help you make the right choice. With access to all your cash up front, you can make and carry out your big plans for a secure financial future.

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