subject: The Pros And Cons Of Selling Structured Settlements Or Annuities [print this page] If you are planning to sell off your structured settlement or annuity to a purchasing company, then make sure to consider all the facets of such an action. There will always be two sides of every story, and selling your annuity has its pros and cons as well.
Let us begin with the pros:
Selling your structured settlement or annuity is a good way to get a lump sum amount of money. If you have a very important financial need, then selling off your structured settlement is the best solution. Instead of you waiting for the monthly payments, you can have the whole amount in one giving which is beneficial for your financial needs. Reasons like medical bills, tuition fees, exorbitant credit card bills and other important payables in your life, selling your annuity for lump sum can be a viable solution. You can pay off all of your debts with the help of selling your structured settlement.
Now the cons:
Having a structured settlement is a feasible financial arrangement you can give yourself, for you have a longer period of time accepting money. Although the amount is small, but the thought of its consistency can definitely help you in more ways than you can think about. The financial stability is very well provided with structured settlements or annuities. It seems that your financial future is better secured knowing you have a specific amount of money coming in every month for years to come. And selling off your structured stability is like selling off your financial stability as well.
In conclusion:
If you really consider all the factors, the outcome of selling your structured settlement will all depend on how you are as a person. For one, if you sell your annuity for trivial reasons, then rest assured that you will be having financial problems in the future. But if the reason of selling your annuity is a matter of life and death, then the act is very well justified. You can always look for other ways to support your means in the future.
