Super Fitness Health BlogFind a Dependable Plan – Getting Annuity Payments
If you were looking for a reliable plan for the future then possibly looking at getting annuity payments would be a great solution. Structured settlement annuity payments are those payments that are guaranteed for a specific number of months or years. Annuity payments are issued through an insurance provider and will pay an individual.
Different ways to receive your annuity payments
Since the annuity or structured settlement is a contractual agreement, once agreed upon and signed it is very difficult to change. You have many options to choose from when it comes to receiving your annuity payments. If you would like to receive multiple lump sum payments, yearly, quarterly or even monthly payments the choice is yours. However every situation is different and you should carefully evaluate yours personally before deciding what to do.
Advantages of Annuity and Annuity Payments
When you are awarded annuity payments that are several things that one should consider. First and foremost the payments from the annuity or structured settlement is tax-free. That means you don’t pay taxes on the monthly payments that you are getting through your settlement payments. Another advantage of annuities are that you are guaranteed an income stream for a determine amount of time. With this is 40 months or 40 years you know how long you will be receiving these payments and can plan accordingly. You should also have access to a broker/lawyer who can help you measure the costs that you may run into later down the road. From hospital to medical bills these are thing that need to be looked at to help you in the future.
Make Sure You are Honest and Review Your Situation
A lot of times annuitants get caught up in what they want and see others do. Remember every person’s situation is different and just because you see someone doing something with his or her payment doesn’t mean it fits you. When you speak to your attorney makes sure you are honest about what you need and the thing that are going on with you. This will allow for the best payment options to be set up for your settlement payments. Maybe you need your payments to last thirty years or just maybe you need money now and can’t afford to wait on 300 installment payments.
If you have read this for then chances are you are in the process of getting a structured settlement annuity or you are thinking about selling some of you payments for cash. In either occasion make sure that you take your time and review you situation carefully with a lawyer. Actually determine what you need and how long you will nee it.
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