Sell Your Annuity Payments
Get a $500 advance within 24 hours
when selling your annuity payment rights.*
Get a $500 advance within 24 hours
when selling your annuity payment rights.*
Annuities can help you plan for your future and ensure you have a steady income later on in life. Along with retirement planning, your annuity can also help you with your current financial obligations. If you are experiencing financial challenges or have other reasons for needing cash now rather than later, you may want to consider selling your annuity payments. Learn the benefits of selling an annuity and what the selling process looks like.
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An annuity is a financial contract between you and an insurance company that you can use to keep a constant stream of income later on in your life. Many people use annuities for their retirement planning so they can continue to receive an income after they are done working. Lottery winners may also choose to receive their winnings as an annuity. This means that rather than getting their winnings all at once, they get installments of their winnings over many years.
Although annuities are intended to help people distribute their funds over a long period of time, you may experience times in life when you need short-term financial solutions. In these situations, you may be able to sell your entire annuity or a selected portion of it. These immediate funds can help you cover unplanned costs and recover financially so you can start planning for retirement once again.
Rather than waiting for your annuity payments in the future, you can sell your annuity payment to get cash right away. Here are some reasons this can be beneficial for you:
If you decide you want to sell your annuity payment for an immediate lump sum of cash, there are a few different ways you can do it.
If you decide to sell your annuity for cash, there are a few steps you need to take to make it a legitimate sale. Start this legal process by talking to your financial advisor or attorney about your different options. They can help you determine what option you should choose when selling your annuity.
Next, you need to connect with a company that purchases annuities. Once you choose a company, you work with one of their representatives to discuss your sale options. They work with you to gather information about your annuity and then offer you a quote to buy it. Think about the offer and determine if it is right for your financial situation.
Once you decide on a quote, the representative drafts up a contract for you to read over and sign. Most states require court approval, particularly if you are selling a structured settlement annuity, before honoring this contract. Schedule a court date to discuss this transaction.
During this hearing, you may need to explain why you need to sell your annuity. For example, the judge may ask you about your current state of finances and why you need cash right now. Make sure to have your reasons prepared before this hearing. If the judge approves your request, the transaction is forwarded to your insurance company and you can receive payment.
Before selling your annuity, make sure it’s the right financial decision for you. Getting cash sooner than later can have many benefits for you and your family. Get started on researching your options and reaching out to a representative who can help you through the process.