Unless you are basically a finance or economic graduate, you have no ways to know the various options of selling your annuity for structured settlement over lump sum settlement. Please don’t assume that you already know how to make a deal with finance or insurance companies if you ever face a situation for annuity settlements. There are too many options available that would make you utterly confused.
Long ago, I had a friend who was a successful salesman for an annuity buying firm. As a mathematician, even I could not easily understand benefits of exercising the myriad options of selling the impending lump sum annuity for structured settlement.
What I would do in case of facing such a situation?
First, I would ask for quotes from annuity buyers. There are too many in this trade who would rush with their offers with a few fringe benefits thrown in to lure you. I would receive all of them without committing to anyone.
Next, I would simply hire a reputed financial consultant to analyze the offers and quotes and entrust him to prepare a final draft. Since there is some leg work involved, I would give my consultant full freedom to work out the details and close the deal for a fee. It is definitely worth it.
If you have no access to such a financial consultant, you would better deal with an online annuity buyer who is accredited by the BBB.
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