31 Jul Why You Should Sell Your Structured Settlement Annuity
A structured settlement annuity is a payment plan usually granted to claimants of a lawsuit or out-of-court settlement. Courts prefer this option, which entails a series of payments rather than a lump sum payout. The plaintiffs, on the other hand, usually aren’t so wild about receiving a structured settlement annuity. Payments are often stretched out to the point where it is difficult to receive adequate compensation when they need it most. For plaintiffs that need the compensation to pay for, say, medical bills, lawyer fees, and other expenses, structured annuities can be a burden — which is the opposite of what they’re supposed to be!
Thankfully, there are other options for plaintiffs besides an annuity settlement. By selling an annuity settlement, you can stand to see your settlement money come in much faster than the traditional method. This is how it works: you sell your annuity to a financial company that uses the money for investing. In return, the company will pay you the settlement amount upfront or, if you would prefer, reinvest it into an even more favorable annuity. Regardless of whether you want a lump sum payout or a more gradual payment, selling a structured settlement is a very popular option for claimants who don’t want to (or can’t) wait.
How popular? A recent survey found that 92% of claimants who sell their settlements are happy with their decision. It’s also worth noting that settlement annuities are quite prominent in the United States. More than 37,000 Americans rely on structured settlement annuity money every year. Moreover, new structured settlement projects pay out about $6 million annually. Thousands of Americans, in one way or another, depend on settlement money. Selling structured annuities is a proven, reliable way of getting the money you need and deserve. For more information, feel free to leave a comment or question at the bottom.