My mother passed away in 2006. I was the beneficiary of her annuities. Genworth and Allstate both are saying that I can not have the Original documents or any other important information about these annuities. Is this common or are they pulling one over on me? Would a lawyer work? Please let me know if you have any information. All they will tell me (which I already know) is how much I get a month, the date I receive payment, and the dates I will stop receiving payments. They wont tell me if I am getting interest, if its fixed, or variable annuity. Also this is from a lawsuit. A doctor was sued and she recieved money for it.
my mother was the owner
They own the original documents – that would be, the original paperwork she first took out.
If you are the new owner of the annuities, they SHOULD be providing you with a statement and account number.
If you're getting a set amount every month, for a certain period of time, it's a fixed annuity. Annuities, the interest is included in the payout amount.
So I'm not sure what information you want that you aren't getting – because you already KNOW the specific answers. You don't get to find out what it's invested in – you only get the dollar payout once a month.
,an annuity that will supplement her income by $65,000 per year for 25 years, beginning a year from today. The going rate on such annuities is 6.25%. How much would it cost her to buy such an annuity today?
$770,963.15
$811,540.16
$852,117.17
$894,723.02
$939,459.18
Her life savings, as that annuity is one of the biggest ripoffs as an investment out there….
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These are the 6 biggest mistakes people make with their Individual Retirement Accounts (IRA’s), based on information from Ed Slott, who, according to the Wall Street Journal, is “the best source for IRA advice.”
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It can be more difficult to weather market volatility once you’re retired and spending money from your portfolio. This video explains how Vanguard’s Managed Payout Funds are designed to provide regular monthly cash payments through a variety of market conditions.
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In this edition of Speaking of Settlements, Mark Wahlstrom discusses the huge sea change in the settlement industry that has been brought on by the federal take over of AIG. While some might argue with that description, the fact is that 80% of the company will be in the hands of the US government thanks to the $85 billion infusion of cash. What is the impact going to be on the annuity holders, claimants, policyholder and lawyers who do so much business with AIG? What are the impacts of the structured settlement industry where AIG has market leadership? Listen in and find out, or go visit The Legal Broadcast Network to learn more.
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Scottwealthhttp://gdata.youtube.com/feeds/api/users/scottwealthPeopleThomas, Scott, Tom, financial, planning, wealth, management, investing, stocks, bonds, investment, advisor, mutual, funds, market, CFP, certified, planner, brokerage, insurance, annuities, pensions, savings, bank, buy, sell, loss, gain, bull, bear, fixed, income, rally, money, currency, cash, economics, monetary, policy, indices, Federal, Reserve, inflation, 401k, retirement, IRA, pension, guaranteed, hyperinflation, schiff, gold, commoditiesSo the Fed is just going to keep on buying bonds!2009-05-26
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If you put up $28,000 today in exchange for a 8.25% , 15 year annuity, what will the cash flow be?
If you can show how you got your answer, it would be much appreciated.
There is an on line annuity calculator that works well.
http://www.moneychimp.com/calculator/annuity_calculator.htm
The formula is i/(1-(1+i)**-n) for a prersent value of 1. So to solve you multiply by the amount of $28,000.
I am thinking of consolidating/getting a lump sum payment for a fixed annuity. I've been looking around the internet and found a lot of information on buying annuities – but not much on selling one you already have. I need the fundage to pay for college and living expenses (I'm 24 years old, I don't need this annuity for retirement). I'm also kind of in a pickle and need to do it soon since I just lost my job to downsizing. (Economy is in the pits.) Any advice or if someone could point me in the direction to more info?
There are many companies that Buy Annuities, such as Peachtree Funding, JG Wentworth, Stone Street Capital, and Woodbridge Investments. You can find all of these on the internet by a yahoo search. Be aware that an annuity that is not payable for 41 more years has very little value.
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