IN-FORCE™ Fixed Term Annuities…Learn More About Their Term and Purchase Amount
Posted on August 21, 2013
I’m sure that if you have heard of an IN-FORCE™ Fixed Term Annuity you have wondered about the length of term and the purchase amount. Today I am going to share with your some information that I know you will find helpful in answering your questions around this topic.
The present value of an IN-FORCE™ Fixed Term Annuity is generally between $50,000 and $150,000 but this is just an estimate. The number can range higher or lower.
The length of the terms range from 1 year to 35 years but typically they are on average 5 to 20 years long.
IN-FORCE™ Fixed Term Annuities are not widely known to the general public nor are they widely available to individual Buyers. As such, they provide a unique opportunity for Buyers to purchase safe, fixed returns at superior rates.
So how do you learn about them and purchase one if it is the right choice for you?
Bulbrook/Drislane buys a Fixed Term Annuity from an Existing Annuitant and transfers the payment to you through a court transfer process. This process is available in 48 U.S. states through a state sanctioned transfer stature. Your name, IRA name, intermediate transferor or nominee, or payment assignment trust name will be stated in the transfer court order, which is generally obtained in the state where the Existing Annuitant resides.
The court will direct the insurance company that issued the Fixed Term Annuity to pay to the designated payee all of the annuity payments when they are due and as further assigned. The court order assures that the Existing Annuitant has relinquished title to their payment right as well as securely effecting the payment reassignment.
Payment is made whether the Existing Annuitant lives or dies during the period that the payments are due. Upon the death of the Buyer, the payments continue to the joint owners or the estate of the Buyer, as designated.
Payments will come to you by way of check mailed to your designated address or by direct deposit into your bank account. The insurance company usually determines the method of payment. As the Buyer, you may change the address for payment or bank account designation at any time by informing the insurance company directly.
If you have any questions on this topic or are interested in how you can purchase an IN-FORCE™ Fixed Term Annuity please don’t hesitate to contact us today!