What is a better option in case of a Lottery win – to go for a annuity payout of 26 years or to go for one time cash option?
Kindly give in details your calculation as to why – Thanks
We sat down tonight with my mother about her estate and we are (and she is ) concerned about not being able to cash in her whole life insurance policies through Shenandoah Life Insurance Co. She has paid the full max. amount that was to be in their, but now she would like to cash her policies out and they said that they won’t let her do that. Our question is, are they able to say that to her, that they can’t cash out her whole life insurance policies and cancel the accounts through Shenandoah? She did receive a letter in the mail a few months ago saying that they were in "receivership"? and I did just look at their web site and found the following info. too… (A moratorium placed on the payment of claims and benefits, except for accident & health claims,
death claims, and periodic annuity payments, at the time of receivership will remain in place during the parties’ negotiations. And, Shenandoah will not resume the issuance of new insurance policies until a plan of rehabilitation is approved by the SCC.)
Can anyone please help us with understanding how we can help our mother be able to cash out her policies and close her accounts? Any help would be greatly appreciated! Thanks!!
Myself and three sisters now own my Father’s property in Mesquite. The loan payoff is 2,000. It is valued at 8.00 currently and is listed on his irrevocable trust that we were on. He had a "Spendthrift" clause in it that we are not subject to debts and collections. We want to allow this property to go into foreclosure but we want to know if they will come after our individual assets and ruin our credit. The other assets in the trust were annuities and one life insurance policy and some cash to pay for funeral etc.
Marie bought a house for 1,000. She put down 10% in cash and financed the rest with a 30-year mortgage at 6.3% annual interest.
1. What are her montly payments?
2.If she repays the entire loan as planned, what is the total amount she will have repaid?