there was a security breach with my information and I want out. Do I have any chance of settling and how do I go about it. Thanks in advance.
Lump sum payments are available from certain companies but not usually advisable. If the company you receive payments from now will not do it, there are third party companies that will let you assign the income stream to them and receive a lesser amount. They work by offering a discounted present value of future payments (giving you less than the present value which is already lower than the future value).
The security breach seems like a separate issue because it doesn't change your payments, and by receiving a lump sum, you might not change the way they handle your information – or the fact that they handle it at all. Financial companies are required to keep your information on file for a number of years after the last transaction due to Sarbanes-Oxley Act. You might want to talk with an attorney about this issue.
March 31st, 2009 at 9:50 pm
If you are receiving a monthly payment, chances are you chose the annuitization option when the death benefit was filed. Once that option is chosen, you can not go back and take a lump sum.
References :
In financial services industry for 8 years.
March 31st, 2009 at 10:15 pm
Lump sum payments are available from certain companies but not usually advisable. If the company you receive payments from now will not do it, there are third party companies that will let you assign the income stream to them and receive a lesser amount. They work by offering a discounted present value of future payments (giving you less than the present value which is already lower than the future value).
The security breach seems like a separate issue because it doesn't change your payments, and by receiving a lump sum, you might not change the way they handle your information – or the fact that they handle it at all. Financial companies are required to keep your information on file for a number of years after the last transaction due to Sarbanes-Oxley Act. You might want to talk with an attorney about this issue.
References :
Being right requires real experience, not time.
March 31st, 2009 at 10:50 pm
Ok, this guide is completely FREE, have a read and see what you think. It may make things a litle clearer. Even if it doesn't, you've lost nothing. Hope it helps.
http://whatisanannuity.blogspot.com/
References :
http://whatisanannuity.blogspot.com/
March 31st, 2009 at 10:58 pm
ya, there are other third party companies are there that will involve in the monthly annuity settlement between you and your husband company..You can get lump sum of cash but with the loss of some amount in future payments. But you will not be needed to get involved in the issue again. Few such companies offer lump sum cash with very small deduction. You need to consult 2 or more.
References :
http://www.ppicash.com