An annuity is a product sold usually by insurance companies that is designed to provide a steady stream of income during a personís retirement. There are two types of annuities, first is Owned, meaning you purchased it or inherited it and a Structured Settlement which is won through a court of law. This product is usually sold to and used by an individual before their retirement years. Sometimes an annuity can be left to the beneficiaries of the deceased person who purchased it and it can be used in the same way. However just as easily as you purchased it you can easily sell your annuity payments in case the need arises. There are many benefits to selling your annuity and many reasons as to why it will work for you.
When many people buy their annuities it is with the intention of having a steady stream of income to fall back on once you retire. You have worked hard throughout your life and you deserve to enjoy your retirement when the time comes. Having annuity erases the worry of having no money to pay your bills and taxes during your retirement and takes the stress off of you of having no money.
However, sometimes life can get in the way and you may find that you are in need of some money now. It happens more frequently than you would expect. Sometimes an emergency arises and you find yourself facing a ton of medical bills that need to be paid. Or you may suddenly want to open that family restaurant that you have always wanted to start. Either way one of the many benefits of selling you annuity is that you donít have to wait until you are retired to access your money. You can get it when you need it and you can use it on whatever your heart desires.
Another benefit is that there are buyers that are willing to buy your annuity payments and some of those buyers even offer deferred payment plans so that you are able to choose the right size payments that are comfortable for you. You can choose when you receive your payments. It is completely on your terms, not the buyers.
One last benefit of selling is that you donít have to sell all of it at once and leave yourself high and dry come retirement. You can choose to sell a large portion or a small portion of it anytime. You can choose whatever you wish, that way you can live in comfort knowing that come retirement you will still have annuity payments waiting for you and that will be there to ensure that you can still pay any expenses that you may have. Again, it is completely on your terms.
Many people out there claim that selling your annuity is the worst thing that you can do and that is simply not the case. The main benefits of selling it are that you can access that money in case of an emergency or if you simply want to use it to fulfill your dream, you can choose when to receive your payments and you can choose however much you wish to sell. Either there are more advantages than disadvantages when it comes to this and all that is left is for you to decide is what will work best for you.
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Mark Long has 10 yearsí experience and is a leading authority in advising people on how to sell annuity. He is a recognized and celebrated figure in the various selling annuity payments market and continues to pull record sales numbers and renowned customer satisfaction on a yearly basis.
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