Selling annuities is not an arduous task but one that encompasses the need to research well, find the best options, compare the offers received from varied buyers and then take the final call. If you are stuck in a myriad of questions about finding the appropriate buyers to sell the annuities and different ways to make the most of it, then it is imperative to gain a better understanding in every form about selling annuities.
Best Ways to Sell Your Annuity
The first thing that you need to consider before you sell annuity payments is determining the value of the annuity. You need to find out the discounted value of the future cash flow of the annuity in order to figure out its present value. This has to be the price that you will ideally receive while selling your annuity. You should rather hold on until the time when the market value of the annuity reaches a level where selling makes good sense.
You might be genuinely concerned about losing your job or might be sacred that because of your ill health, you might not be able to work in the future. And, in such cases a PPI can be a good way of protecting yourself against any financial burden. However, make sure that you buy this insurance cover out of your will. There are chances that this was sold to you along with the mortgage, loan or credit card you took. If that has happened, then you are victim of mis-sold Ppi and you should go the legal way and file a claim.
Many times the lenders, policy providers and the banks sell this product without informing the buyer about it. And, if you or someone in your family has suffered because of it and paid a huge amount of money, then by all means, you should reclaim payment protection insurance. If you are wondering about the reasons and the benefits of reclaiming it from your bank then know about the following points:
Everyone wants a financially secured and well-planned future. If one sensibly plans for his future life during his working years, then once can satisfactorily arrange and plan for a relaxed future. Keeping all this in mind, many times individuals decide to buy a payment protection insurance (Ppi), which can be of great help in covering the expenses, if the person fails to fulfil his financial commitments due to redundancy, illness or any other unfortunate mishap.
Many times, the individuals plan their finances in a different manner and do not need these insurance covers, but are sold by their banks or their mortgage providers without their knowledge and this is when there is a mis-selling of payment protection insurance. If you also in the past have taken some loan or a credit card, there are chances that you also might be a victim of mis sold Ppi. Thus, to avoid falling in trap of these mis-sold policies, it’s important that you keep a tab on your policy, keep a check on its terms and conditions and are also updated if your bank or loan provider made some changes in the provisions.
Don’t be a victim!
Have you recently paid off, or are you currently paying off a debt – whether it was a loan, an insurance policy, a credit card overdraft or any other similar liability? Well, if you have, then you may have been unfairly paying for Payment Protection Insurance (PPI), and could be entitled for filing PPI claims.
Financial institutions have deviously been charging unsuspecting consumers unwarranted or miss sold “insurance” for Loan protection , Employment protection, to cover for Sickness and illness , against Accidents, for Credit card debt repayment, and to guarantee against hire purchase repayment. While these products were intended to look out for the end consumer, they ended up making you pay for a service that:
a) you really didn’t need, but were pressurised into buying
b) you didn’t know you had purchased, because of the way it was “packaged” and sold to you;
You might have taken insurance cover so that you can be economically secure, even if there is sudden loss of income because of redundancy, illness, accident or due to some other unfortunate incident. However, if you think that you have been victimized, there is no reason for you to sulk and do nothing. It is important that you take the legal route and get your rightful. In fact, with few easy and hassle free steps, you can easily file for Ppi compensation claims.
Report the mis-selling to the concerned bank or the seller immediately: It is important that no sooner you realize that you have been victimized than you bring it to the notice of the authorities. Ensure that all your details and the situation in which you were mis-sold the Ppi have been properly recorded. All these citations and record will help you in filing a stronger compensation claim. In case, the bank or your lender denies any mis-selling, then you have all the legal rights to file a case.