Meet the Indonesian doctor who has rescued more than 1,000 stray and abandoned dogs
Monday, July 13, 2020
Add Comment
hpk
Selling annuity payments could be the solution for an array of financial woes. Whether that includes buying a new house, paying for a new car, paying for college tuition or even balancing medical expenses, cashing out a portion of your annuity could be the solution to avoiding unnecessary debt.
However, it is important to understand the risks when deciding to sell a portion or all of an annuity. Selling an annuity comes with a slew of transactional fees, interest fees, and other costs depending on how early annuitants withdraw funds. It can also reduce the number of future payments an owner or his beneficiaries receive.
Reasons to Sell Annuity Payments
There are plenty of reasons for selling annuity payments, but some of the most common include:
Losing a job
Investing in a business
Paying medical bills
Paying off debt (student loans, credit card bills, etc.)
Paying for school tuition
Buying a new home
Buyer’s remorse
Whatever the reason, it’s important annuity owners know the best selling options to cash out on their investment.
Selling Options
Annuity owners have several options when selling their payments, including selling the entire annuity, part of it, or a lump sum amount.
Prior to selling your annuity, it’s important to seek counsel. During your consultation with CBC Settlement Finding, our customer representatives will be able to answer any questions you may have regarding the selling process and offer suggestions. It is also important to consult your attorney or accountant before deciding to sell your annuity. In many states this is legally required.
Entirety Purchase
The entirety — or straight — purchase is the most common option in selling an annuity. This strategy includes selling the annuity for the full term of the contract. This means the entire investment is emptied, providing the owner with a lump sum of cash in hand. The entirety purchase eliminates any chance to receive future income payments from the annuity contract, but in turn provides the opportunity to invest or pay off debt using a lump sum.
Partial Purchase
A partial purchase involves selling a portion of an annuity for a temporary period of time in exchange for a lump sum. If an annuity owner has a 10-year contract but needs money for a new car now, he can sell his annuity from years one to three in exchange for a lump sum. However, for three years, the annuity payments will stop. Once those years pass, he will begin to receive the steady stream of annuity payments for the remainder of his contract.
Lump Sum Purchase
Similar to a partial purchase, an annuity owner can opt to sell a portion of their investments in exchange for a lump sum. The difference is that the amounts are more specific. If an annuitant needs a set amount of money to repair a house, the amount will be taken from the future annuity income stream.
The Annuity Selling Process
Although the annuity selling process is easy, it can be a lengthy one.
Step 1
Step 1 – Ask For Guidance
If you’re thinking of selling your annuity, it’s important to first seek guidance from a trusted financial advisor or attorney. Both can help to determine whether this decision could hurt your financial future, in addition to presenting helpful alternatives.
Step 2
Step 2 – Get a Quote
Once you’ve determined selling the rights to your future payments is the best decision for you, contact us at CBC Settlement Funding. Our skilled customer representatives are ready to offer you a quote for no cost and with no obligations. Have additional questions? Our team can help answer those, too. Our customer representatives will also explain all of your options for receiving lump sum cash in hand from selling a portion or all of your annuity payments.
Step 3
Step 3 – Schedule a Court Date
After you complete the paperwork our attorneys need to get started, they will schedule a court date for a judge to hear your request. Annuitants must have a judge’s approval in selling annuity assets before receiving any immediate payment. Once approved, CBC Settlement Funding and your lawyer will arrange your payment.
Annuity Sale Factors
When considering whether to sell your annuity, it’s also important to consider all the factors involved with the sale, including the value of your annuity, discount rates and tax implications.
Discount Rates – When you sell your annuity, you will not be paid the full amount the annuity is worth. In exchange for receiving a lump sum up front, you will agree to sell your annuity at a discounted amount based on predicted future interest rates. This percentage is called a discount rate. When researching annuity buyers, make sure to ask what discount rate the company prefers to use. The lower the discount rate, the more money the seller will receive in their lump sum payout.
Annuity Value – Besides the discount rate, other factors that will impact the value of your annuity, or how much a buyer will agree to purchase it for, are how much you wish to sell, the current economic conditions, predicted future economic conditions, fees or charges your annuity carries and frequency of your payments.
How Much is My Annuity Worth?
The value of an annuity greatly depends on the company the annuity owners have invested with and the number of payments or amount they plan to sell. Before investing in an annuity, take some time to shop around to discover which company will present you with the most competitive pricing and the least amount of withdrawal fees. Withdrawing annuity savings early can increase the amount of interest needed to pay for a lump sum of your earnings.
In addition, the amount of annuity payments owners wish to sell will determine the amount of cash they get up front. The larger the portion of annuity they sell, the larger the lump sum they receive. However, it is imperative to understand annuity owners will never receive the full amount of their investments. In order to get money up front, annuitants will have to pay interest on their annuity portions.
Pros and Cons of Selling
Cashing out on annuity payments can help to alleviate debt and other financial strains. On the other hand, selling your annuity can impact your financial future. Before making such a significant financial decision, the annuity owner must weigh the pros and cons. Sometimes short-term pleasures can affect a long-term financial cushion.
Pros to selling your annuity include:
Instant Cash – If you need quick cash for an emergency payment, investing in a new home or any other incidental, annuity owners have more efficient access to funds versus waiting years for the first payment.
Less Debt – Selling annuity payments can help to pay off debt once they’re cashed out. If you have college loans that need to be paid off or if you are still in debt from a home repair, sold annuity payments can help.
More Options – Annuity owners do not have to sell all of their payments for cash. There are a multitude of options to receive quick cash while still being able to invest in a future financial cushion.
Cons to selling your annuity may be:
Reduced Future Income – Although quick cash can help to prevent financial woes, annuity owners must remember that selling your annuity early can affect your long-term retirement savings and investments. Using payments now reduces the number of payments you’ll receive in the future.
Buyer’s Remorse – Using invested payments for unnecessary expenses can hurt in the long-term. Easier access to a lump sum of money can lead to irresponsible spending habits and unnecessary purchases.
No Full Price Payments – If you to choose to sell half of your annuity payments, you will not receive the entire half in a lump sum. The amount of transactional and withdrawal fees charged determines the amount of interest you will have to pay to receive immediate cash.













source : channelnewsasia.com
the cheapest car insurance
cost of car insurance
best car insurance quotes
insurance auto
insurance quotes car
get car insurance quotes online
car insurance agent
instant car insurance quote
car insurance websites
direct car insurance
insure a car
motor car insurance quote
cheap car insurance
online quotes for car insurance
car insurers
commercial car insurance
motor insurance quote
car insurance quotes online
get a quote online
international health insurance
compare car insurance quotes
insurance for car
compare car insurance
car insurance
buy life insurance online
compare auto insurance
international medical insurance
general car insurance
cheap motor insurance
low car insurance
car insurance comparison
company car insurance
budget car insurance
private health insurance
online quote car insurance
cheap motor car insurance
car insurance for new drivers
cheap car insurance quotes online
online car insurance quotes
get car insurance quotes
car insurance quotes comparison
motor car insurance
car insurance quotes
car insurance cheap
comprehensive car insurance
best auto insurance
short term health insurance
motor insurance
cheap online car insurance
online motor insurance quotes
car insurance california
buycarinsurance
online vehicle insurance
free car insurance quotes
landlord insurance
health insurance for children
motorbike insurance
monthly car insurance
car insurance usa
car insurance reviews
car insurance renewal quotes
vehicle insurance
health insurance rates
term life insurance quotes
vehicle insurance quotes
car insurance compare
motor vehicle insurance
best car insurance
motor insurance online quote
car insurance online quote
life insurance online
supplemental health insurance
best car insurance rates
car insurance discounts
motor vehicle insurance quotes
auto insurance
cheap travel insurance
bike insurance
travel medical insurance
buy car insurance online
online motor insurance
travel insurance quote
get a quote for car insurance
health insurance agent
car insurance companies
cheap car insurance companies
travel insurance
annual travel insurance
commercial vehicle insurance
permanent life insurance
medical insurance quotes
online car insurance
cheap car insurance quotes
car insurance online
quote insurance online
level term life insurance
health insurance comparison
how much is car insurance
travel health insurance
pet health insurance
quotes on cars
health ins
travel insurance uk
quote for car insurance
get insurance quote online
disability insurance quote
temporary health insurance
temporary insurance
rental car insurance
cheap health insurance
auto insurance compare
third party car insurance
buy health insurance
auto insurance quotes
cheap insurance companies
best term life insurance
personal health insurance
online quote insurance
car insurance premium
health insurance policies
quotes for cars
whole life insurance
credit insurance
cheap van insurance
cheap term life insurance
cheap motorcycle insurance
compare life insurance
car insurance cover
health insurance
motorcycle insurance
short term car insurance
health insurance coverage
insurance qoute
cheap life insurance
house insurance quote
car insurance uk
health insurance companies
cigna health insurance
cheap insurance
cheap car insurance uk
compare health insurance
car insurance for young drivers
short term insurance
online health insurance
caravan insurance
life insurance comparison
direct insurance
health insurance plans
motor insurance online
car insurance estimator
accident insurance
home insurance quotes
nj car insurance
new car insurance
private medical insurance
home insurance
car insurance brokers
car insurance rates
commercial insurance
health insurance quotes
motor insurance companies
which car insurance
car quotes online
online auto insurance
flood insurance
cheap auto insurance quotes
car insurance agencies
business health insurance
term life insurance
truck insurance
professional indemnity insurance
life insurance
car insurance policy
long term care insurance
drive insurance
buy insurance
car ins
motorcycle insurance quote
critical illness insurance
term insurance
student health insurance
home insurance comparison
insurance rates
insurance cover
holiday insurance
insurance sites
online vehicle insurance quotes
company website
home insurance rates
compare insurance
buy insurance online
affordable medical insurance
car insurance coverage
product liability insurance
home contents insurance
buy life insurance
renters insurance
group health insurance
family health insurance
motor insurance quote online
mortgage insurance
best home insurance
personal insurance
medical insurance
property insurance
life insurance agent
group insurance
aetna health insurance
cheap medical insurance
liability insurance
rental insurance
life insurance policy
group life insurance
general liability insurance
insurance quotes online
all car insurance companies
best health insurance
insurance plans
life insurance for seniors
van insurance
website quote
universal life insurance
building insurance
co insurance
insurance car
car insurance prices
disability insurance
insurance vehicle
cheap vehicle insurance
senior life insurance
medical insurance plans
insurance health
house insurance
life insurance quotes
car quotes
cheap home insurance
0 Response to "Meet the Indonesian doctor who has rescued more than 1,000 stray and abandoned dogs"
Post a Comment