Structured settlement annuities in legal cases provide claimants with much-needed compensation for wrongs committed. Whether it is the result of a medical malpractice lawsuit (which, in 2013, paid out a whopping $3.6 billion in compensation) or a lawsuit against an employer (which have risen over 400% since 1995), a structured settlement annuity provides relief for those who need it the most.
However, receiving an annuity settlement is not as simple as it sounds. As the word suggests, an annuity is an annual payment made over a number of years. It is often the case that money from an annuity cannot be doled out until a certain period of time. This period of time can last from a year to 25 — if not more (retirement annuities, for example, typically last decades before they start paying claimants). For people who need a good chunk of their money fast — for example, people who have exorbitant medical bills to pay due to a work-related accident — an annuity settlement may not cut it.
For this reason, selling an annuity settlement is a popular option for claimants. By selling your annuity settlement, you can see the money, your money, immediately, either as a partial payment or as a lump sum. Getting cash for structured settlement is something many claimants clammer for. After all, why should you have to wait years to get the money that rightfully belongs to you? It is possible to receive money from annuity settlements but they often come with early withdrawal fees. Sometime they can be as high as 7%, if not more. That’s a lot of your money!
In order to avoid this and get the money that you need and deserve, consider selling your annuity payment. For more information on getting cash for structured settlements, feel free to leave a comment or question at the bottom.