Lump sum refers to money that is paid in full up front typically from a settlement. Annuity settlements are when the payments are made over time in installments.
The difference between a lump sum and annuity is, lump some you get a anywhere between half or 3 quarters of the money. An annuity is where you will get a certain amount of money for a certain amount of years.
There is no difference between a bump and a lump.
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You can get money for settlements faster, in a lump sum instead of payments at www.settlementpaymentsource.com. Another site is www.woodbridgeinvestments.com
One of the positives of an annuity are guaranteed income for life, but a negative is one would only get a fixed amount each month. A positive of lump sum is one has access to money to do whatever one pleases, but a negative is having a lump sum makes it easy to spend it all at once.
The terms are similar and both relate to reverse mortgages, however a reverse annuity mortgage often refers specifically to reverse mortgages where the borrower chooses to receive monthly payments from the lender rather than getting a lump sum of cash upfront or a line of credit.
Explain! Yes is not an answer...
An insurance annuity is a contract between an individual and an insurance company that is designed to meet long range goals such as retirement. With an annuity, a person gets their money back and then some in either a lump some or monthly payments.
There are a few companies that offer lump sum payments for structured settlements. Peach Tree and Settle 4 Cash are two examples of companies that try to get a lump sum.
Annuity settlement buyers offer you a lump sum in exchange for the future payments you are due to receive. Most of the time these companies offer a 50% - 60% lump sum of the total payments.
A variable annuity is an agreement between a person and an insurance company. A certain amount is given every month to the person receiving the annuity. They offer many pay options if someone is to die before the annuity is paid out. It is a way to take the money you are given and increase the amount by accepting smaller payments monthly vs. one large lump sum up front.