Sell My Annuity

Selling an annuity is relatively common and painless.

Unlike selling your structured settlement annuity, if you want to sell your annuity, it does not require a court order. You simply sign a contract, record a change of ownership with the insurance company that issued the annuity, and once the ownership change is complete you receive your lump sum payment.

The process begins with a simple discussion with an annuity purchaser (these are the same folks who will also buy structured settlement annuities). You provide them with information about your annuity, the payments you receive and when they are due, and they give you a quote to buy some or all of your future payments. Of course, you decide how many payments you want to sell and which ones you want to keep. This allows you to get the lump sum you need today and continue to receive payments over time as well. Of course, you can always sell all of your annuity payments to get the largest lump sum possible.

The steps to sell your annuity are as follows:

A structured settlement is a type of annuity arranged with an insurance company.

Structured settlements are typically issued to individuals who have suffered harm as a result of a personal injury.

In some cases where the victim is owed money from another party as a result of a personal injury, the federal government encourages these victims and their families to utilize structured settlements issued by the insurance company who insured the party at fault. For example, if you were injured in a car accident, you may receive a structured settlement from the insurance company that covered the driver responsible for the accident.

Some of the lawsuits that can result in a structured settlement:

There are many reasons to consider the sale of your structured settlement annuity.

Often times the reason is simply that the annuity payments coming in over time are no longer appropriate for the needs of the recipient. For example, the structured settlement annuity could have been awarded when the accident victim was a minor, but now as an adult with a full time job they would benefit more from receiving a lump sum of money today.

Sometimes there are very specific reasons why small periodic payments do not meet the needs of the structured settlement annuity recipient, and only a lump sum can help accomplish their goals.

Some of the reasons are:

Sometimes recipients of structured settlements just want to have all their money today and don’t want to have their asset in the hands of the insurance company.

In some cases, a loan can be considered as an alternative to selling your structured settlement annuity. However, this is often an inferior option to selling your structured settlement annuity because the interest rate on the loan may be high, and you must be disciplined to apply your structured settlement annuity payments to repay your loan. If you don’t, you could end up with outstanding debt plus interest and no more payments coming in to pay the loan off.