There are some complexities involved with purchasing an Assured Annuity, but the good news is that Genex Capital Corporation strives to take care of them for you. In order to transfer an structured settlement annuity, the person who wants to dispose of it actually does have to go through some legal hoops to get the job done.
Whether an annuity can be sold is governed by State and Federal Law. Currently, 48 states allow people to assign their structured settlement annuities. This sale has to be approved and, once it is, the seller will give up their right to receive the annuity payments and turn them over to the Buyer either directly or through a third party servicing company–your choice; the buyer who actually purchased the annuity.
Finding the Right Match
Assured Annuities?are sold at many different levels and at different interest rates. Those interest rates provide the profit for the buyer, so it’s important to take a look at them and decide whether or not they meet your needs.
The buyer will have to put down the money to purchase the payment stream, sometimes with flexible terms being available. This allows them to become the assignee of the payment rights and, because of that, they gain all of the financial stability that goes along with having a fixed-income asset in their portfolio.
Assured Annuities provide an easy way for people to get into this market. Instead of having to worry about handling the legal elements of it themselves, the buyers only have to purchase the payment stream that they want and they don’t have to worry about getting everything taken care of so that they can take over as the recipient of the payments.
These payments can be paid out by the insurance come be responsible for them directly or by a third party. The thing to keep in mind is that all the companies involved are very reliable and the insurance companies responsible for making those payments have anywhere from and A to a AAA rating from Standard & Poor’s. This means that people can put their money into these annuities with a great deal of trust and that they don’t have to worry that they’re making an investment in something that will not pay out.
Is it the Right investment?
For some people, this can be regarded as one of the best type of investment available. Between being able to get a fixed-income asset into their portfolio and being able to get an asset that is guaranteed to pay out a certain amount of profit over time, they get a great deal of stability.
The long-term nature of some of the payouts also make them great for people who want to save up over time. In some cases, it’s almost like having an extra paycheck going into a retirement account every single month. Depending upon what laws apply to your situation, some people find themselves able to not pay taxes on the income until the full amount is paid out. This is potentially another great benefit to investing in these as financial instruments and adding them to your portfolio. You are advised to check with your financial planner to see if it is the right choice for your needs.