Fixed annuities are a great option for anyone who is scheduled to receive a large sum of money over a given period of time, but sadly, many don’t know what are annuities are.
What are fixed annuities? Fixed annuities are contracts in which one party agrees to pay another a set amount of money during a prearranged period of time.
There are several reasons why individuals get fixed annuities. One reason is that fixed annuities are great ways to plan for retirement. They offer a retiree frequent cash payments in exchange for having made payments to the insurance company while they were working. For those who find it difficult to save, or those who don’t know how much they need to save for retirement, annuities are a great option to ensure that you can stay comfortable even after longer working, because annuities help people manage their income into retirement.
Another reason individuals become the holders of fixed annuities is because they have been injured and the court grants them cash structured settlements. In fact, more than a third of all personal injury claimants are offered a structured settlement.
These individuals have two options; first they could keep the fixed annuity and use it to collect a set salary for a given number of years, or they could make the trade of cash for structured settlements. They could do this by selling their annuity to one of the firms that purchases them. What they could not do would be to take money straight out of the annuity without being penalized. This is because, if one tries to prematurely take money out of the annuity substantial taxes and insurance company charges are applied to your account.
Despite this, their is a way to get settlement money now without the fees and penalties; an individual can sell their fixed annuities and get an upfront payment of cash. This is a really great option for some people who have received a fixed annuity, but who have bills or expenses that need to be paid right away. By selling your fixed annuity, you give the right to the payments that you would have received to the buyer.
There are many firms who do this kind of work and they are not hard to find. Plus, they perform a very valuable service by increasing the amount of liquidity there is in annuity markets.
If you have a fixed annuity and need cash right away, I would highly suggest selling your annuity for cash upfront. Learn more at this link: www.sellmyannuity.net
