BRYN MAWR, Pa.--(BUSINESS WIRE)--Dec. 1, 2005--J.G. Wentworth
today announced that it has expanded its Annuity Purchase
Program(TM) to 47 states. The Annuity Purchase Program, offered
through Brokerage General Agents (BGAs) and designed for use by
insurance agents and brokers with their clients, allows
consumers to sell all or part of their annuities to deal with
changing investment strategies or personal circumstances.
"Tax-deferred annuities have been a valuable personal finance
tool for many consumers and offer the benefits of stable, secure
and guaranteed income," said Michael B. Vaughan, managing
director of the J.G. Wentworth Annuity Purchase Program.
"Unfortunately, annuities can become a very inflexible solution
for many consumers when they face the need to review estate
planning or investment goals, or simply realize that their life
circumstances have changed."
Vaughan added, "According to industry estimates, there are more
than $1.6 trillion of assets backing annuities in the U.S.
alone. We estimate that 5-10%, or $60-160 billion, of those
annuities are in the hands of consumers who would sell, in any
given year, if they could. In fact, according to a 2003 survey
of immediate annuity owners by the American Council of Life
Insurers (ACLI), more than a quarter of respondents (27%) were
'concerned they may be unable to sell their annuity if they want
the money for something else' and 4% believe the decision to
purchase an annuity was a poor one."
About J.G. Wentworth
J.G. Wentworth, the sponsor of the Annuity Purchase Program, is
the nation's oldest, largest and most respected buyer of
annuities. For more than 14 years, J.G. Wentworth has been
purchasing annuities as well as other deferred payment streams.
During this time, the company has purchased over $2 billion of
future payment obligations. The company's annuity-backed notes
are rated AAA by Standard & Poor's and Aaa by Moody's and sold
to institutional investors. J.G. Wentworth is based in Bryn
Mawr, PA. For more information about J.G. Wentworth and the
Annuity Purchase Program, go to
www.jgwfunding.com/annuities.asp.
About the author:
This article was submitted by
http://www.dmipartners.com" target_"new">DMI Partners, the
interactive marketing firm for
http://www.jgwfunding.com" target_"new">JG Wentworth.
DMI Partners
is an agency specializing in higher education, finance, retail
and real estate. For more information visit
www.jgwf
