3 Reasons You Shouldn't Be as Worried About Selling Annuities as You Might Be
Over 37,000 Americans use structured settlement money every year, but sometimes it isn’t enough. When it’s not, there are options. The thing is, though, that selling a structured settlement annuity isn’t an easy thing to decide on. On the one hand, selling fixed annuities does deliver a large sum of cash, which you may very well need, but on the other hand, the financial security that structured settlements provide is no longer there. Fortunately, selling your annuity might not be as scary as you think. Here are a few facts you should see:
The Average Structured Settlement Payout Is a Lot Bigger Than You’d Think
Believe it or not, the average structured settlement payout is a whole lot bigger than you might think. On average, selling structured settlements pays out a staggering lump sum of $324,000.
The Vast Majority of People Who Sell Are Satisfied
In the overwhelming majority of cases, people don’t regret selling their structured settlements. Believe it or not, a whopping 92% of claimants who sell their annuities are satisfied with the decision.
The Law Will Keep You From Making a Big Mistake.
Before you can sell your annuity, you have to present you case before a judge. Generally, they’ll approve the sale of a structured settlement if it’s in the best interest of the person. For example, if you need to sell your annuity so that you can pay the cost of higher education, repair your home, start a business, purchase a reliable car, or pay off debt, then you’ll probably be approved. Judges will not, however, allow a person to sell his or her annuity if they want to make a risky stock market investment, buy a new home theater, take the family out on a vacation, or buy other things. If you’re thinking about selling your structured settlement, but are having reservations, relax. There’s a very, very good chance that you’re making the right decision, and even if you aren’t, a judge will likely advise you about the best course of action. If you have any questions about selling annuities, feel free to share in the comments.