By Kyle Fitzsimmons, InsuranceAgents.com Staff Writer
Although annuities and life insurance are usually linked together, an annuity is not the same thing as insurance. You purchase annuities through your life insurance company but it is engineered to benefit you while you’re alive whereas life insurance is engineered to benefit your loved ones after you pass on. A structured settlement annuity can be simply defined as an agreement where your insurance company agrees to pay you a predetermined amount of cash for a fixed length of time if you meet an accident. Compare annuity offers by using our simple online quote form.
One of the perks of a structured settlement annuity is that the payments are income tax-free and guaranteed. You can decide whether you want payment in the form of equal installments, installments in vary amounts, or in a lump sum. You can verify your specifications in the structured settlement annuity agreement.
You can also decide when payment starts for your structured settlement annuity and for how long but you should first consider these important factors:
Accidents can strike at anytime and if your occupation puts you in the line of fire—so to speak—then you should consider a structured settlement annuity. Just like with any other kind of annuity, you get out of it what you put into it and if you can afford the expense then the reward at the end could be very beneficial. If you’re not looking for an annuity and life insurance is more what you’re considering, check life insurance rates online, and compare. The easiest way to do that is to use our quick online form to compare up to five offers. But if you’re in the market for an annuity talk to a life insurance agent today about what a structured settlement annuity has to offer you.
Published: Friday 4th September 2009
