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doom · 10-31-2007, 01:35 PM

ok so my wifes father passed away about three years ago, and we have been collecting his life insurance policy for that time. it is scheduled to pay us 304.95 a month for the next 12 years.if u add it up it come up to roughy 39000 dollars or so. my question is is how could i get this in a lump sum.? is there anyway possible at all ?we need to take the money and get re stablized any intelligent comments would be appreciated<br />

realtime · 10-31-2007, 01:35 PM

You?re in a nice situation. Congratulations. Sorry to read about your bride?s Dad not being around.

To answer your question: In the wonderful world of money. there?s what is known as ?the
time-value of money?.

A VERY BRIEF EXPLANATION: Today?s dollar will not have the same buying power as tomorrow?s dollar.

Tomorrow?s dollar will not have the same buying power as next year?s dollar. This is due to inflation and other economic factors.

Before doing anything or contacting any one, you should seek professional investment advice to find out about the tax ramifications and other circumstances and/or consequences for that money you may be receiving.

Your financial advisor should be able to point you in the right direction to help you keep as much of that money as possible AND to help you save money on your taxes.

SUGGESTION: DON'T go the bank or institution where your bank accounts and checking accounts may be or are. PLEASE seek professional, independent investment advice and counselling.

SUGGESTION: Write a letter to the company paying the annuity. Request a lump sum payout or payoff. It probably depends on how the initial annuity was set up and the language in that annuity?s documents.

GUARANTEED: you will not get the full amount of $39,000.00+/-.
EXPLANATION: The Powerball is an annuity. It has a pay out over 20 years. When the winner decides to take the lump sum, the payout is about 50% to 60% of the total Powerball jackpot/annuity?s amount. This is "Gross" - before taxes.

This is only a ?guesstimate?: You could expect a similar amount in a lump sum pay out for the annuity - about $20,000 to $22,000. You may have to jump through a few hoops to get this money.

When you get it, DON?T BLOW IT! GUARANTEED: once you sign the documents and get that check, you won?t get another dime from that company.

Once again, I URGE you to seek independent, professional investment advice.

I wish you well!

VTY,
Ron B.

jonny · 10-31-2007, 01:35 PM

The best way to do this is go to the secondary market. There are allot of investors that will buy this and get you a lump sum of cash for this. I work in the real estate note industry and regularly deal with these type of investors. I will warn you that allot of the larger companies will low ball you on this and try to make a mint on you while the smaller investors typically offer better deals as they don't have the mega marketing budgets and want to get you the first time around. I know a smaller group called Platinum Financial Strategies that is a great group as I have done some business for them. They are a first class group that is smaller yet more personal and don't play games with their offers. http://www.platfin.com is their website. Most of these investors are happy to give you a free no obligation quote as well.

titan22 · 01-07-2008, 10:33 PM

Putting money into an annuity is an insurance scheme. they tell you that you are required to have pay outs, when in reality they just hold it and invest the money and gain interest on it while they pay you a minimal amount.

if you want to get the lump sum, you will pay a CDSC.Contingent Deferred Sales Charge (CDSC)

if you want the money, you can get it.

10-31-2007, 01:35 PM	#1
doom Greenhorn Join Date: Jul 2006 Posts: 13 Rep Power: 0	turning an annuity into a lump sum? ok so my wifes father passed away about three years ago, and we have been collecting his life insurance policy for that time. it is scheduled to pay us 304.95 a month for the next 12 years.if u add it up it come up to roughy 39000 dollars or so. my question is is how could i get this in a lump sum.? is there anyway possible at all ?we need to take the money and get re stablized any intelligent comments would be appreciated<br />

10-31-2007, 01:35 PM	#2
realtime Greenhorn Join Date: Jul 2006 Posts: 27 Rep Power: 6	turning an annuity into a lump sum? You?re in a nice situation. Congratulations. Sorry to read about your bride?s Dad not being around. To answer your question: In the wonderful world of money. there?s what is known as ?the time-value of money?. A VERY BRIEF EXPLANATION: Today?s dollar will not have the same buying power as tomorrow?s dollar. Tomorrow?s dollar will not have the same buying power as next year?s dollar. This is due to inflation and other economic factors. Before doing anything or contacting any one, you should seek professional investment advice to find out about the tax ramifications and other circumstances and/or consequences for that money you may be receiving. Your financial advisor should be able to point you in the right direction to help you keep as much of that money as possible AND to help you save money on your taxes. SUGGESTION: DON'T go the bank or institution where your bank accounts and checking accounts may be or are. PLEASE seek professional, independent investment advice and counselling. SUGGESTION: Write a letter to the company paying the annuity. Request a lump sum payout or payoff. It probably depends on how the initial annuity was set up and the language in that annuity?s documents. GUARANTEED: you will not get the full amount of $39,000.00+/-. EXPLANATION: The Powerball is an annuity. It has a pay out over 20 years. When the winner decides to take the lump sum, the payout is about 50% to 60% of the total Powerball jackpot/annuity?s amount. This is "Gross" - before taxes. This is only a ?guesstimate?: You could expect a similar amount in a lump sum pay out for the annuity - about $20,000 to $22,000. You may have to jump through a few hoops to get this money. When you get it, DON?T BLOW IT! GUARANTEED: once you sign the documents and get that check, you won?t get another dime from that company. Once again, I URGE you to seek independent, professional investment advice. I wish you well! VTY, Ron B.

10-31-2007, 01:35 PM	#3
jonny Greenhorn Join Date: Jul 2006 Posts: 17 Rep Power: 0	turning an annuity into a lump sum? The best way to do this is go to the secondary market. There are allot of investors that will buy this and get you a lump sum of cash for this. I work in the real estate note industry and regularly deal with these type of investors. I will warn you that allot of the larger companies will low ball you on this and try to make a mint on you while the smaller investors typically offer better deals as they don't have the mega marketing budgets and want to get you the first time around. I know a smaller group called Platinum Financial Strategies that is a great group as I have done some business for them. They are a first class group that is smaller yet more personal and don't play games with their offers. http://www.platfin.com is their website. Most of these investors are happy to give you a free no obligation quote as well.

01-07-2008, 10:33 PM	#4
titan22 Super Moderator Join Date: Aug 2006 Location: West Coast Posts: 773 Rep Power: 7	Putting money into an annuity is an insurance scheme. they tell you that you are required to have pay outs, when in reality they just hold it and invest the money and gain interest on it while they pay you a minimal amount. if you want to get the lump sum, you will pay a CDSC.Contingent Deferred Sales Charge (CDSC) if you want the money, you can get it.

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