If you’re thinking about selling your annuity or selling your structured settlement, you’re already on the right path for reaching a more flexible and stable financial future! Selling your annuity can be a good way to gain control over your money without paying ultra-high fees for early withdrawals, and the entire process is conducted safely and securely in court. Here are just a few interesting numbers behind the processes of owning an annuity or structured settlement, and selling your annuity:
$3.6 billion: The total amount of money paid out in structured settlements just during 2013 because of medical malpractice lawsuits.
$6 million: The average amount of money each year which is used to fund new structured settlements — from car accident settlements to civil lawsuit settlements, a lot of money is funneled into these accounts over the years but only a small portion of the money is paid out each year.
25%: The percentage of money typically taken by the federal government in taxes when you win the lottery. You can choose to receive your lottery winnings as a lump sum of cash or as a lottery annuity; either way, you’re already paying a lot of money in taxes (and that doesn’t even factor in the extra fees you pay for regular financial management).
$324,000: The average amount of money paid out in a structured settlement after you sell your payments. Although you won’t receive all of your money when you choose to sell structured settlement payments, you’ll still likely receive more money in payout than you would if you broke your settlement contract by taking your money out early.
37,000: The number of Americans who use money from structured settlements each year! Whether you want to pay off your credit card debt or you’re hoping to buy a new house, maybe just go on vacation or start going back to college, the freedom to use your money as you choose is a huge advantage of selling a structured settlement annuity.
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