If you receive structured settlement payments, there’s a good chance your annuity policy also contains for life income, also known as life-contingent payments. Our company aims to be the leading provider of information and services for those with life annuity payments – so please continue reading!
What Are Life Contingent Payments?
Life contingent payments are fixed payments that are set out in an annuity contract or structured settlement agreement. Life insurance companies such as Metlife, Allstate, Prudential and New York Life provide annuities that can be purchased to pay out structured settlements, some of which have a life contingent component.
These can be quite sizeable payments, but life circumstances sometimes leave you with no option but to monetize a portion or all of those payments to pay back debt or make a big purchase. As specialists, Life Contingent capital can fund top dollar and among the fastest payouts in the industry.
How Do Life Contingent Payments Work?
Life contingent payments work similarly to regular guaranteed settlement payments; in fact, you might not even be able to tell the difference unless you look at your annuity contract.
In these contracts, life contingent payments are usually related to phrases such as “as long as the annuitant is living” and “for the life of the insured.”
How Much Can I Get For Them?
The amount you can receive for your life contingent payments depends on a number of factors, including the timing and amount of the payments as well as your health.
Because of these reasons, it’s difficult to give a generic assessment of value, but Life Contingent Capital can provide an initial quote based on a short questionnaire over the phone. So if you’re looking to sell life contingent payments, give us a call!
Can I Sell Far Out Life Contingent Payments?
This is a common question that we receive from recipients of a life contingent annuity and the answer is YES!
Life Contingent Capital specializes in pricing distant payments, and in fact over ninety percent of our clients come from other companies. You can receive a free, no obligation quote by giving us a call at (833) 760-4006 and answering a few questions about your annuity.
Different Settlements, Payments & Annuities Explained
Understanding the various types of life contingent payments can be confusing – below, we take the time to explain each type.
Life Contingent Structured Settlements
The term life contingent structured settlement is virtually the same as a regular structured settlement annuity policy. In some cases, the policy will contain only life contingent payments, meaning that your monthly check would cease upon death and there are no additional beneficiaries for such payments.
Life Contingent Annuity
Life Contingent Annuity Definition
A life contingent annuity is similar to a structured settlement in that it consists of fixed payments, either on a monthly basis or through lump-sums every several years.
If you’ve ever asked yourself “what is a life contingent annuity,” we have the answer. These are policies, owned by either an individual or an insurance company, that provide lifetime income, usually in the form of monthly payments.
While most policies contain a guaranteed portion (i.e payments that continue to the estate or other beneficiary of the policy in the event that the original beneficiary passes away), some policies will only have a life contingent portion.
Life Annuity Payments
Life annuity payments are when your regular structured settlement payments stop being paid out upon the death of the original beneficiary. Sometimes this will be a claimant of a personal injury lawsuit, but it could also be a relative of that individual.
Unlike guaranteed settlement payments, life contingent payments cannot be inherited. If you have questions about the nature and value of your structured settlement or life contingent payments, give us a call at (833) 760-4006 and we will be happy to give you the information you need and explain the funding process.
It’s best to have your structured settlement paperwork in hand when making the call, so that you can receive a custom quote that fits your exact payment stream.
You should also be ready to answer some basic questions about your health and lifestyle, which are factors that can affect the value of life contingent payments.
This is in contrast to guaranteed structured settlement payments, which often have other beneficiaries that would receive the payments in the event that the original beneficiary were to pass away.
Life Contingent Capital specializes in life contingent payments; our underwriting model and network of investors allows us to purchase payments others can’t, and make offers to you that are unmatched. If you’re looking for companies that buy life contingent payments, start with Life Contingent Capital.