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What is the settlement option of a life policy that provides periodic payments of a specified amount as long as the proceeds plus interest last?
annuity
What will happen if an annuity company close down?
It depends on the type of annuity and how your payouts are calculated. There are several different methods. You do have the option of naming a beneficiary on your annuity, and with certain types of payout options that beneficially could receive the money in your annuity when you die. Other options just pay out during your lifetime, and the payments stop when you die.
When do you receive option premium?
You receive option premium when you sell an option contract to another investor. The premium is the amount of money you receive upfront for taking on the obligation of the option contract.
What are some annuity settlement options available?
With this option, the insurer pays annuity income benefits for a specified period of time (e.g., 10 or 20 years). The stated period over which the insurer will make the benefit payments is called the period certain. Even if the annuitant dies during this period, it will not affect the income benefit payments. When the period certain ends, so do the payments.
What is an annuity payout?
An annuity payout is cash recieved from an annuity that you build through investment. There are several types of annuity payouts, such as the Life option, which pays retirement based on your life expectancy, and a Joint-life option that pays for you and your spouse. Annuity payments are fixed payments made out over a specific amount of time. These days there are companies that can offer you a lump sum settlement on your fixed annuity payment that you recieve if you wish to have all your money now.,
Which settlement option pays for a specific period regardless of who may receive the payments?
Fixed period
Can you take out a loan using my structured settlement?
The answer is Yes. You may obtain a low interest loan for your structured settlement. You also have the option of selling partial payments or full payments.
What is the settlement option of a life policy that provides periodic payments of a specified amount as long as the proceeds plus interest last?
annuity
Is the settlement option of a life policy that provides periodic payments of a specified amount as long as the proceeds plus interest last?
annuity
What does life income joint and survivor settlement option gurantees?
The life income joint and survivor settlement option guarantees that after the primary annuitant's death, a designated survivor (usually a spouse) will continue to receive regular income payments for their lifetime. This option typically provides a reduced monthly benefit compared to a single life annuity, as it ensures ongoing financial support for the survivor. The payments may continue at a specified percentage of the original benefit amount, depending on the terms of the contract. Overall, it offers financial security and peace of mind for both annuitants and their beneficiaries.
When is a good time to get a structured settlement?
A good time to get a structured settlement would be whenever is most convenient. The payments can be done monthly or yearly and the better option would be up to the individual based on their needs.
What will happen if an annuity company close down?
It depends on the type of annuity and how your payouts are calculated. There are several different methods. You do have the option of naming a beneficiary on your annuity, and with certain types of payout options that beneficially could receive the money in your annuity when you die. Other options just pay out during your lifetime, and the payments stop when you die.
What are the drawbacks of going after a cash settlement?
A cash settlement is usually some type of lump sum payment offered to those who receive structured settlements. The drawbacks include low cash offers that prey on those who need cash now, and more of a tax burden when you take the lump sum option. Sometimes when you take a cash settlement versus timed payments, the total overall amount is decreased. Also, you will need to pay taxes all at once, which can be a hefty sum.
What is the purpose of a fixed period settlement option?
A fixed period settlement option allows beneficiaries of a life insurance policy or retirement plan to receive payments over a specified period rather than as a lump sum. This approach provides a steady income stream, helping to manage financial needs over time while reducing the risk of overspending the principal amount. It can also offer a structured way to ensure that funds last for an intended duration, making it a suitable choice for long-term financial planning.
When do you receive option premium?
You receive option premium when you sell an option contract to another investor. The premium is the amount of money you receive upfront for taking on the obligation of the option contract.
What type of life income option annuity guarantees periodic payments that terminate upon the annuitant's death?
The LIFE payout options available from an annuity or life insurance policy are of two types: (A) Life Only and (B) Life with Refund (A) Life Only - the contract guarantees an income (at least annually) for the life of the "annuitant" (the person whose age and sex determines the amount payable). At the annuitant's death, the contract ceases, without value. (B) Life with Refund - Like Life Only, this option will pay an income for the life of the annuitant. If the annuitant dies before the expiry of a specified period, such as 10 years (this is known as a "life and 10 Year Certain" payout) or before the annuitant has received a specified total amount (this is called "life and Cash Refund"), the remaining "refund" amount will be paid to the beneficiary. In the case of "Period Certain" options, the beneficiary will receive the remaining payments (e.g.: if annuitant died having elected a Life and 10 Year Certain and died after five years, the beneficiary will receive payments for the next five years. In a Cash Refund payout, the beneficiary will receive the lump sum difference between the specified lump sum and the cumulative value of income payments paid to the annuitant. It should be noted that NO annuity payout arrangement can EVER guarantee ANY amount to the beneficiary, as all such arrangements will terminate without value if the annuitant lives past the "refund feature" guarantee. LIFE payout are not the only way that annuities can provide income. A non-life payout, called "Period Certain", guarantees payment of income for a specified period of time (e.g.: 20 years), whether the annuitant is living or not. If the annuitant outlives the Period Certain, no further payments are made.
Are debt settlement firms considered legalized scams?
Depends on who you ask. Some say yes, others will tell you they're great. If you're thinking about enrolling in debt settlement, I highly recommend doing a good amount of research. Many times, the negative opinions of settlement companies come from a misunderstanding of the settlement process. Debt settlement involves stopping payments to credit card companies and putting payments into a savings-type account instead. Once there is a certain amount of money in the account, the settlement agency will make an offer to the card or collections agency. In the meantime, the accounts will go into default, and you can receive phone calls and threats of litigation. Your credit score will also be affected. Settlement is not a quick fix, but it can be the best option for many people. A clear concise FAQ can be found at swiftrock.com/faq. And of course, a google search will pull up hundreds of informational pages.
