An Annuity is a agreement among insurance company and you in which you make a lump sum payment or series of payments and in return get hold of regular disbursements beginning either immediate or at some point in the future.
The goal of annuities is to provide a steady stream of income during retirement. In simple and easy words, Annuity is a contract that is purchased with a single lump-sum payment and in exchange, pays a guaranteed income that starts almost immediately.
An immediate payment annuity is especially suitable for retirees who are concerned about outliving their saving. However, one disadvantage is that an immediate payment annuity is irreversible once it has been purchased.
Why Sell My Annuity Payments
There are many reasons for sell annuity payments, following are the some common reason of sell annuity payments.
- Starting a business
- Buying a home
- Investment in business
- Repairing a home
- Funding a college education
- Divorce
- Investing in property
- Investing in stock
- Paying off debt
How much Will You Receive?
No-doubt, you have an option to sell your annuity payments, because it’s your own payments. However the amount of the annuity payments depends on the a few things.
Factors affecting the future value of your annuity
- Length and timing of your payments
- Amount of payments and how much you wish to sell
- Any lump sums you may want to sell
- Fees and extra charges
- Current economic conditions
Sell My Annuity Payments Lump Sum
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