Annuity payments are as common as they are controversial. They’re common in the sense that they are used for everything from retirement and life insurance plans to court settlement payouts, but they’re controversial in the sense that the money they store is often inaccessible. An annuity is a financial agreement in which a certain amount of money is “stowed” away for an extended period of time. Ten, twenty, thirty years. Etc. The money is not taxed nor does it collect interest. After the agreed-upon time limit, claimants can start accessing their money in a payment schedule they agreed to.
For some, annuities offer financial peace of mind in that the money cannot be lost no matter what. For others, however, they can be very inconvenient. People who need a bulk of the money immediately often have to pay large withdrawal fees. If you withdraw the money in the first five to seven years of the agreement, the surrender charges can be up to 7% if not more. People who withdraw money from a retirement annuity before age 59.5 are subject not only to taxes but to a 10% penalty fee. That’s a lot of money. In a way it defeats the purpose of setting up an annuity in the first place.
For people with annuities who want to have their money early and don’t want to deal with pesky surrender and maintenance fees, there is a unique, convenient option. Selling an annuity settlement is something many claimants do in order to access their money quickly and without fuss. If you sell your structured settlements, you can receive a lump sum payout up front or in a timetable that is better for you. Cash for annuity payments has never been easier to receive!
Find out why 92% of people who sell their annuities are happy with their decisions by leaving a comment or question at the bottom. Cash for annuity payments can be yours sooner rather than later.