Annuity Myths and Answers

Myth Question:What happens when you die? Do the insurance companies hold onto your money?
Answer:Income annuities can guarantee that you will continue to be paid as long as you live or as long as you specify. Life income annuity is guaranteed period that will continue until all of your money has been paid back. With this annuity, should you pass away, your beneficiaries are guaranteed to receive all your money when you die — everything you put in plus the interest you’ve earned.

Myth Question:I’m worried that guaranteed income annuities can’t keep up with inflation. Is this a right concern to have?
Answer:Not if you can keep your guaranteed income rising by converting additional savings into guaranteed income. Payout rates typically increase as you age. Your savings can and will buy an increasing income amount.

Myth Question: I’m interested in annuities, but I fear they are difficult to understand and own. Are they that complicated?
Answer:Some annuities are complex, but at MDH we keep annuities simple and straightforward. Here’s how they actually make your life easier:

  • Tax-deferred compounding for a guaranteed savings annuity can give you an easier income tax return and a lower tax bill.
  • Guaranteed income annuities take over the difficult process of creating your own income by instead offering a guaranteed retirement “pay-check.”

Myth Question:I always thought guaranteed savings annuities were only for older or extremely conservative investors? I’m younger, and I’m not necessarily conservative.
Answer:You’ve heard the expression before, and it applies here as well: “Age is but a number”. Savings annuities can diversify your retirement portfolio and help you plan for whatever your future holds years from now.

Myth Question: Once I buy an annuity, I won’t be able to move it without paying taxes. Correct?
Answer:The contrary is actually true. Federal tax regulations permits you to transition your annuity without paying taxes through IRA rollovers and 1035 exchanges.

Structured Settlements- We Understand

It’s no secret a structured settlement buyout can play a huge role in your life. Often times, there is an opportunity of a lifetime at your doorstep, but you are forced to reject it because money is sparce, or worse just not there.

Have you found yourself sitting around and waiting for your money to add up? Contact MDH Funding to find out how a structured settlement buyout can improve your quality of life.

At MDH Funding, we are here every step of the way to help you with your finances. We understand how long-drawn out the legal process can often be. We understand that accidental injuries happen in life.

We understand how important your retirement is to you after all the countless hours you put in. We understand that sometimes you need to pay bills now, and not later. We understand there are certain moments in life where you the need the best financial plan available with low interest and debt whether it is paying for an education or buying your first home.

Contact MDH today

Financial Stress

Do you know how many percentage of Americans report worrying frequently about how they are going to make ends meet? According to AboutHealth, roughly 70% of Americans claim they face financially-related stress.

With financial stress comes health-related stress such as anxiety, high blood pressure, and even increased heart rate.

Have you asked yourself some of the following questions?

  • How can I spend my money effectively?
  • Should I pay off a bill now or later?
  • Can I realistically stretch my debt for one more month?

Do you want to have the option to sell your future payments for a lump sum of cash, and use that money to pay down debts? Is this choice right for you?

Ultimately, only you can decide. We are here to explain the process of selling structured settlement or annuity payments for cash.

Types of Structured Settlements

Life Annuity

This means you would receive periodic payments, but for a guaranteed number of years or for your entire life, whichever comes first.

Temporary Life Annuity

For temporary life annuity, you would still receive periodic payments for a guaranteed number of years but only if alive. In other words, with this type of structured settlement you would not have the ability to name a beneficiary.

Lump Sum Annuity

If wanted, you could establish an annuity whereby you would receive a lump sum of money on a specified date in the future. For instance, if you were 55 years old at the time of the incident, you could bolster your retirement funds by having the lump sum set for ten years ahead. This would mean that at age 65 you would have more money on which you could retire.

For the lump sum option a beneficiary could be chosen. However, once you choose the future date, it cannot be changed.

Life Only Annuity

With life only annuity, you would be able to determine the frequency of payments, if the attorney would be paid in periodic payments or a lump sum, and whether you receive any upfront cash in the form of a lump sum prior to the periodic payments being created. Also, payments would be paid for the remainder of your life and no beneficiary provision is offered.

Joint and Survivor Annuity

With joint and survivor annuity, you would still be receive monthly payments for the rest of your life. However,if you chose a beneficiary and that individual were to outlive you, the monthly payments would be transferred. Thus, the chosen beneficiary would receive payments for life.

Interested in learning more about our annuities? Contact us at 1-855-804-FUND (3863) or use the form below:

Save Money When Buying A Car

Save money when buying a car

Are you thinking about buying a new or used car? Consider the following recommendations which may help you get a better price on your car at the dealership:

Evaluate Add-Ons

Have you been told about the great add-ons you can purchase for your vehicle ranging from a navigation system to an extended warranty. Consider which add-ons are necessary, and which may be taking extra money out of your pocket. Also, often add-ons can be purchased at a lower rate at another place besides the dealership.

Balance Total Cost and Monthly Car Payments

Dealerships will frequently lengthen your car’s loan term if you’re financing the car through them. While you may think you are still going with your monthly car payment budget in the end, the extended loan could increase the total price of the car by thousands.

Explore Every Option

In some situations, you might save cash by buying from a private seller. Call around and ask for rates before heading straight to the dealership lot.

Do you need money to buy a car? MDH Funding may be able to assist. Are you receiving long-term payments from a structured settlement after a lawsuit? Many of our customers choose to use the money they receive to make a large purchase, such as on a car.

Do you have a question about how your structured settlement can used for your car purchase? Contact one of our representatives today by calling 1-855-804-FUND (3863) or use the form below:

Structured Settlements for College Tuition Payments

The high tuition of a college education is a financial obstacle for many families. While student loans may seem like the temporary answer to paying for education costs, in the long run loans contribute to much more debt.

Have you found the process of deferments equally troublesome with the ensuing costs in late charges, penalties and increased interest?

How does structured settlement  pay tuition in a more financially smart way? The process involves taking advantage of current assets to avoid debt and higher interests from loans. Selling a structured settlement opens up cash allowing a student to pay down tuition at the time they are admitted into their school.

Education costs continue to soar. In 2011, graduating seniors owed an average of $25,250 in student loans. In 2013, they owed an average of $35,200 in student loans.

How does a structured settlement sale work for incoming college students? The sale allows for an “advance” on assets that avoids interest, since it’s not a debt. Instead, the  structured settlement takes equity out of an asset and uses the equity to pay for tuition upfront.

Do you have a question about our structured settlements used for college tuition payments? Contact one of our representatives today by calling 1-855-804-FUND (3863) or use the form below:

Dedicated to helping you use your structured settlement to reach your financial goals.