Are Companies That Buy Annuities Legit?
These days, you can't turn on the television set without seeing a commercial for an annuity buyer
. There are several companies that buy annuities, each offering you cash now for your structured payments. But are these companies legit? Are they offering a genuinely valuable service? Is it legal?Yes, there are legitimate companies that buy annuities. In fact, as might be expected of an industry which deals in large amounts of people's money, the annuity buyer industry is actually quite heavily regulated. Dishonest companies wouldn't survive under the amount of government scrutiny which companies that buy annuities operate under.
Of course, anyone who is considering selling an annuity should be aware that all companies that buy annuities are businesses, not charities. Like any other kind of business, they stay afloat by making a profit. In order to make a profit, an annuity buyer must have a reasonable chance of collecting more money from your annuity or structured settlement than they give you for it. That's the way all businesses work.
There are some situations in which selling an annuity makes good sense, and others in which it does not. If you are considering selling all or part of your pension, structured settlement, or other annuity payments to anannuity buyer, find one who will thoroughly explain all of your options to you. You'll want to do business with a company that shows you the respect to walk you through the options without pressuring you to make a decision which may not be right for you.
There are enough people whose situations are such that it makes perfectly good sense to do business with companies that buy annuities. These situations can range from having an emergency need which a lump sum of cash can handle but small payments won't to simply wanting to use the money that belongs to you to have a good time (assuming you don't need it for living expenses).
Legitimate companies that buy annuities have no need to use pressure sales tactics. A solid offer and a respectful presentation of all of the available options are all they need to offer their valuable services to those who need or desire them.
Have you been considering looking for an annuity buyer? If so, you can rest assured that the companies that buy annuities are generally up front and above board in their dealings. If they weren't, they wouldn't be in business long. Not only would the government shut them down, but in today's information age, companies that buy annuities couldn't afford the bad press they would get from mistreating clientele.
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