19 Jun Show Me the Money! Selling Your Structured Settlement Annuities
If you are ever find yourself in a courtroom filing a lawsuit against a person (such as your employer) or an organization (such as a police department), there will be plenty of things on your mind. One of them is, what you will do with the compensation money if you win the case? For many plaintiffs, especially those who have suffered debilitating injuries, the money is critical to leading a better quality of life. Sadly, though, most payouts from trials and settlements take far too long to be effective in paying for medical bills or your mortgage payments. And if you are unable to work, it’s all the more frustrating.
Most settlements are paid in annuities. That is, they’re paid over a long period of time rather than all at once. This can complicate financial matters for the plaintiff, which is why many plaintiffs sell their annuity settlements. Selling a structured settlement gives people an opportunity to receive their compensation much faster than the courts are willing to pay, providing much-needed relief for the plaintiff. The money can be paid all at once in a lump sum if you so choose, or you can choose a structured settlement annuity with larger and more frequent payments.
Selling an annuity settlement is very popular in the United States. A good 92% of claimants who sell their settlements are happy with their decision. Structured settlements are a serious business in themselves. Roughly 37,000 Americans collect structured settlement checks every year. Moreover, annuities rake in a lot of cash as well. By the end of 2013, there were roughly 35 million individual deferred annuity contracts amounting to $2.6 trillion! That’s a lot of money to manage, which is why hiring a professional financial firm that specializes in structured settlement annuities is the best way to go.
For more information about selling your annuity settlement, feel free to leave a comment or question at the bottom.