 |
| Sold my Annuity |
An annuity is a fixed sum of money paid over a given period. It could be inheritance, lotto winnings etc. Annuities are normally paid or dealt by insurance companies.
You can sell you annuity for anyone one lumpsome, but this depends on the type of annuity that you are being paid.
1. Transferable Annuities can be sold
2. Pension Annuities, workmen compensation payments cannot be sold
When people wonder about their annuities, the ponder if selling their annuities is the best option for them. But people have sold their annuities and will continue to sell their annuities as the needs arise and their situation changes. Some common reason why people sell their annuities is:
1. Purchase a home
2. Purchase a Car
3. College Tuition
4. Clear Medical Bills
5. Pay off Debts
But with all these in mind, you do have the option of not just selling all of your annuity. You can simply sell a portion of your annuity to clear up whatever the expenses are now and continue to receive structured payments for the remaining. When you are going through the process of selling your annuity, it usually takes roughly about 45 days for all paperwork to be reviewed , verified and approved by the court.
0 comments:
Post a Comment