HomeBRYN 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 DMI Partners, the interactive marketing firm for JG Wentworth. DMI Partners is an agency specializing in higher education, finance, retail and real estate. For more information visit Author: Jenna Focarino, Miller DeMartine Group