There are times it can be in your best interest to sell your annuity and sometimes it is not in your best interest to sell your annuity. One thing you will want to do is “Homework”. You will want to make this decision based on information, which will help you make the right choice for your situation. Deciding to sell without information is not a smart move on your part.
Sometimes it is best to seek the advice of a professional. The qualified professional will use his expertise of the financial world and give you an unbiased opinion based on your situation.
You need to be aware, if you pay out date is 20 years from now no one is going to give you a large dollar amount and wait 20 years for their investment return. If you have not already received your structured settlement, you might want think about the reason you want a lump sum of money. You may want to make sure it is a definite need rather than a frivolous whim. Sometimes huge financial mistakes can be made this way.
If your annuity can make more of an investment somewhere else, selling your annuity is not a bad idea. If you have an equity-index annuity, it could be best utilized invested in a different place. However, keep in mind the insurance company is guaranteeing you a minimum return on your investment in an equity-indexed annuity.
If you have made the decision to sell your annuity, you will want to look at the bottom line and decide how much will you get for your annuity? If you don’t get the amount you expected, then how low will you sell your annuity for?
You and you alone will be making the decision regarding your annuity and your financial future. Make sure you weight the risks and take responsibility to either sell or not to sell on your own shoulders.
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