Difference Between Annuity and Structured Settlement
If you do not know, you may not have to choose to sell your future payments. Talk to a financial expert or adviser before you make the leap to sell something that you might regret later.
Structured Settlement is the result of a typically unfair death or personal injury, which results in a payment that is NOT a lump sum (ie a large one-time payment) but a constant, tax-free, ongoing payment and is paid by the Insurance company paid. A standard grade can be $ 60 per month for $ 860 and a final lump sum payment for $ 34,550 at the end of the 60-month period. Keep in mind that an offer that you can get for the money you owe is based on the current value, not the total value of that money, because the future is unknown. The lawsuit is, for the most part, a civil trial in which we have a scene. Also note that Structured Settlement payments can be made immediately for payments. They can be moved or moved immediately.
An annuity is not a Structured Settlement. This is a well-known financial product that a life insurance company like John Hancock or Symetra writes and publishes. Annuities can be sold only by authorized agents. This means that no average citizen on the street can easily sell an annuity. There are security measures to prevent fraudulent pension transactions. The idea of a pension flow should help you multiply your money and multiply it over time. There are countless annuities that you can read on investopedia.com and most likely, when you read this, you have a fixed annuity because they are most common for those who sell their annuities for a lump sum. You can change the beneficiary of your future payments and you can sell them directly for a specific value today.
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