Hi everyone. J.G. Wentworth here.
You know, a lot of folks who inherit annuities from their parents or grandparents tell me that the monthly payments they get are like funny money. I understand what they mean. For an older person, regular payments from an insurance company, along with other investments and Social Security is what makes up their income. But when a younger person inherits the payment stream, it’s like found money they weren’t counting on.
At least that was the case with our customer Steven B in Minneapolis, Minnesota. He inherited his mother’s annuity. Since he was established he didn’t really need the monthly payments, but was glad to get them. Then his mother-in-law got ill. So ill in fact they had to move from Arizona back to Minneapolis. With no jobs waiting for them, they needed a lump sum of cash (not to be mistaken with an annuity loan) to finance the transition.
Now those annuity payments were more important. By selling them to us, Steven B. was able to get the lump sum he needed to move back to his wife’s home, and his mother-in-law got the care and support she needed from her family. All in all, a pretty happy ending for a story that could have turned out much, much differently.