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Article provided by: WePayMore Funding LLC

Cashing In An Annuity

Cashing In An Annuity

Annuities are common financial options for receiving a settlement, pension or lottery winnings. If you are currently receiving funds in this way you may want to find out about cashing in an annuity. When you cash in an annuity you are able to obtain a lump sum payment for the rest of what is owed. This is an option for those who have a need for the money now rather than having to wait for smaller payments.

What is an Annuity?

An annuity is a type of legal settlement or payment that is typically paid in a structured manner. This means that the annuity is paid in regular payments over time, sometimes annually. If you obtained a settlement from a lawsuit, winnings from a lottery or payment for a pension you may be getting regular annuity payments. If you want to get your money sooner you may consider cashing in an annuity to get a lump sum payment.

How Does A Lump Sum Payment Work?

Cashing in an annuity ends the structured payments and gives you a one-time payment for everything that you are owed. The lump sum payment must be calculated to determine the actual amount that you will be paid. The payment can be made to you with a check or by direct deposit into your bank account. It is best to choose a company that deals with structured settlement payments and can provide you with the most money possible.

What Are the Benefits to Cashing In An Annuity?

The most significant benefit of cashing in an annuity is that you will be able to obtain the money that is owed to you immediately rather than having to wait for regular payments. The lump sum payment may be enough for you to pay your bills, to purchase a home or car or for any other financial needs that you may have. If you are in need of money and have a structured settlement it may be in your best interest to take the money in a one-time payment.

How Can I Get a Lump Sum Payment for My Annuity?

In order to obtain cash payment for your annuity you will need to fill out an application through a reputable company. You must supply all of the details and documentation that is necessary to submit the application. Then your application will be reviewed along with the annuity and a lump sum payment will be calculated. Begin the process early so that you get the money as quickly as possible. Once everything is authorized and approved you will receive your payment very soon.

At We Pay More Funding we offer the best possible payment amounts and shortest processing times possible. We help you get the money you are owed quickly and easily. We have the experience necessary to make the process as simple and stress-free as we can. You can begin the process by filling out the contact form online to get started so you can receive your money as soon as possible.

 

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