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Annuities

If you need fast cash for annuity payments, you've come to the right place!

It is simple; you will sell your payments, also known as monthly payments, for cash in your hands right now. But don't worry, it doesn't have to be complicated. The process can be smooth from start to finish with our help. Just follow the steps below and get the financial help you need. After all, it's your money, and we will help you get it.

HOW TO

Selling Annuity Payments in 4 Easy Steps:

  • step-1

    Decide if you need money right now, and what you will use it for.

  • step-2

    Call today to get a free, no obligation estimate on how much money you can get for selling your annuities for cash.

  • step-3

    We take care of the complicated details and legal paperwork for you. You don't need that stress.

  • step-4

    Once it's approved, you'll have your money. That's it!

Get A Free Quote

Your annuity or structured settlement payments could be the key to getting the money you need.

866-508-0010

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  • No Hidden Costs

Get The Most Cash For Your Annuity Payments:

If you’ve recently lost your job, or your home is in need of desperate repair, we can help. Or, if you need to pay off some debts due to debt collectors calling, or if you want to buy a new car, we can help too. If you need to make an exchange for a lump sum of cash, we can guide you step-by-step.

How?

By helping you in selling your annuity for the highest amount possible.

Accurate & Reliable Annuity Calculator

Best & Most Affordable Rates

Private & Secure Transactions

Experienced & Knowledgeable Brokers

Free Quotes On Structured Settlements & Annuities

Are you currently receiving future payments? Do annuity stipulations confuse you?

Such as: selling your future annuity payments and/or calculating the amount you’ll get.

We agree selling your annuity can seem overwhelming and extremely confusing. To help you, we've posted some answers to the most common issues and questions you might have. This can help you before you choose to sell your annuities. Also, remember, you don't have to sell it in its entirety, you can just sell a portion.

For faster service, call an annuity professional Right Now!!

Get A Free Annuity Quote

Your annuity payments could be the key to getting the money you need.

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Frequently Asked Questions About Selling Your Annuity

How long does it take to cash out an annuity?

The time it takes is dependent upon many factors. The most important, of course, it finding annuity buyers for you to selling your annuity payments to. If you are strapped for time and need some cash right away, there is a pre-settlement option. We can discuss more about your options on the phone so we can properly explain the process of selling and answer your questions.

Where can I sell annuity payments?

Unfortunately, you just can’t go to your local bank and cash in your annuity. You have to go to a company specializing in purchasing annuities.

If you are looking to sell your annuity payments for an exchange of a lump sum of cash, call 866-508-0010 and get a free quote.  Pre-settlement funding can be handled too (if your annuity will be the result of a settlement).

When you call the number on this page, you will be provided with the best and most efficient services for annuity sells and purchases. Be sure to consult with their experienced and professional staff before deciding to sell.

What should you look for?

A company that prides themselves on:

  • Expert annuity advisors and brokers.
  • Pre-settlement funding.
  • Providing customized services.
  • Secure and legal transactions.
  • Fast closings.
  • Years of experience.
  • Excellent customer service.
  • Best rates for annuity payments.

You might be wondering, how does the process work? How do I sell my annuity payments? It is pretty simple, but an expert will be there to walk you through each step to make sure everything is done right.

  1. Pick the company you want to sell your annuity to.
  2. Get your free quote.
  3. Accept the quote.
  4. Complete the required paperwork.
  5. If your annuity was issued in the presence of a judge, a judge would need to oversee the selling of the annuity. If not, this step is skipped.
  6. Receive your payment.

Warning: There is an aggressive marketing push to pressure people into selling their annuities when it may not be in their best interests. The Office of Personnel Management of the Federal Government issued a statement in June 2019 warning of such practices.

How much money will I receive in advance?

The amount of money you receive will be determined by the total worth of your annuity and how much of it you wish to sell. It comes down to the kind of annuity you have and which portion of it you are willing to yield.

Other factors may be taken into account when estimating your advance payment, such as: when the payments of your settlement are due, the annuity provider, and the amount of each payment.

It takes less than 24 hours to review your case and offer an advance sum, call 866-508-0010 to get a free quote today.

Who would buy my annuity?

Many companies will advertise to buy your annuity in exchange for a lump sum of cash, but not all companies are the same regarding how much they will pay and the length and difficulty of the process to sell payment.

The Process of Selling:

Selling an annuity does not have to be the end of your retirement plan. Did you know that you can sell just a portion of your annuity today and save the rest for your golden years? Most companies will not tell you that option.

“Who will buy my annuity?”

Call 866-508-0010 for more information, and explain your current financial situation so the right advice can be given in terms of how much of your annuity you need to sell.

See also: Annuity Loan Companies.

Why do people sell their annuity payments?

There are many different and personal reasons why people might decide to sell their annuities. Each person has their motivation for needing to sell their future annuity payments for cash.

We’ve all had the experience of feeling, “I need money, and I need it now,” brought on by a sudden financial emergency. These could be car trouble, home improvements, college tuition, medical fees, loss of a job, an investment opportunity, and many other reasons that you might have.

There is no set reason to sell annuity payments. There are no regulations or laws that dictate or specific conditions that people should meet to sell. If your intentions are legal, then you have the right to sell. Since you do not have to get a judge’s approval to sell as you do with other payment options, the selling process is much smoother and far less stressful.

The US Securities and Exchange Commission has an article regarding buying and selling annuities, which may be beneficial for you. Reference.

Topic: cash for annuity payments

How to know if I should sell my annuity payment?

Most people decide to sell their annuities because they have an immediate need for cash, and they cannot get money anywhere else. So they turn to their annuity settlements to fulfill their financial requirements right now.

Today.

Selling Your Annuity Payments

If you have lost your job, have serious medical bills, or have to make unexpected repairs in your home, then selling your annuity or sell a portion of your annuity can give you the breathing room you need or for the sake of your family’s survival today.

Keep in mind that this is an important decision that only you can make because you are the only person who knows the real state of your finances. You also know how much you need and how it might affect your financial future if you decide to sell.

Learn how to sell annuities the right way, with the least amount of stress, and with the most cash in your hand at the end.

“Should I sell my annuity?” or “Do you want to sell your annuity for cash?“

If you are asking yourself these questions, then you should call 866-508-0010 to discuss your needs in a completely confidential manner and get a free quote.

I only need one of the payments from my annuity. Do I have to sell my whole annuity?

No, you don’t have to sell the entire annuity if you only need one payment; your quote can be customized based on your financial situation and your financial needs. Selling just a portion of your annuity is an option that is done routinely. If you’d rather keep a part of your annuity, there is no problem with that, you can sell as much as you want, and by calling 866-508-0010, you can get the best possible deal.

How long does it take to get your money from JG Wentworth?

While this is only an estimate, as individual circumstances vary, the average time to get your money from JG Wentworth is 60-90 days, according to published reports.

Understand that this time frame is NOT from the day you first call them. This is after you qualify, and your documents arrive in their office.

If you want better turnaround time, and more cash in your pocket, call 866-508-0010!

I’ve lost my job, and I need money to cover some unexpected expenses. Is there a way I can quickly sell my annuity?

Selling your annuity can take from 4 to 6 weeks, depending on many variables.

If you call 866-508-0010, you could qualify for a cash advance that will cover your expenses while the transaction is processed and approved.

You want to work with a company that treats its customers as a priority.

Call 866-508-0010, and they’ll do everything in their reach to speed the sale and make your money available to you as fast as possible.

I’m planning to make some renovations to my house. How much can I get for my annuity if I decide to sell it?

This varies according to the type of annuity you have, the payments you receive, the benefits it brings you, and many other factors that are involved in selling your annuity.

Call 866-508-0010 and get your free quote to find out how much you can receive as a lump sum for your particular annuity.

Is there any government protection for me when selling my annuities?

In the USA, most states have specific federal laws that protect you when selling a settlement or annuity. These laws usually require full disclosure agreements on both parties involved in the purchase and complete transparency of all the terms of the sale. This includes the discount rate, the number of payments, and any charged interest fees. That said, you do not need a judge’s approval to sell your annuity.

Annuity buyers guarantee legality and security; they won’t even try to purchase your annuity without following all legal rules and regulations. And in most cases, there is no need for court approval to sell your annuity.

According to the Federal Deposit Insurance Corporation (FDIC), annuities are NOT FDIC insured. Reference.

If I got my annuity by inheritance, can I sell it?

Yes, usually, you should be able to sell an annuity that you received from an inheritance. It all depends on your situation, but you will most likely be able to sell it. This will allow you to receive a lump sum of cash.

Most of the time, when people get unexpected annuities, they decide to sell them and take the money to invest it somewhere instead of keeping it locked. Contact 866-508-0010 to get your free quote and see what your annuity is worth today.

What are the basic steps to sell my annuity payment?

The steps you need to take before selling your annuity have to do more with common sense than with anything else because selling your annuity can be a life-changing event, so you have to be sure you want to do it.

Here are some guidelines you may wish to follow:

  • Think it through. Analyze what you are going to do with a lump sum of cash and what you could do with the regular payment income you have been receiving.
  • Once you have decided to sell, gather all the paperwork regarding your annuity. This will save you time to make the deal finally.
  • Contact an annuity buyer with all your paperwork and annuity information on hand; this will allow them to customize your evaluation and offer you the appropriate deal correctly.
  • The buyer will probably give you more than one option to choose from. Select the offer you prefer and send them back your answer.
  • Decide on the option best for you, sign the paperwork and cash in your annuity.

After the above five steps, your money will be transferred to the account of your choosing.

Want to get started? Call 866-508-0010.

What are the standard documents I need to sell my annuity?

When you are selling your annuity, you will need a few necessary documents so the process can be handled efficiently. There may be times when additional documentation is required. If this happens, then you would have to contact the current company that holds your annuity to get all the necessary paperwork required by state laws. The paperwork varies from state to state.

Here are a few of the documents you need to have on hand:

  • Identification: Make sure to have at least two different types of ID, meaning, two forms of identification. Also, confirm that it at least has your name and your signature. By the way, remember that with the paperwork, do not submit your original documents, but only copies. This is for your protection.
  • Filled application: If you decide to sell, application form(s) will be sent to you to fill out and send back.
  • Annuity policy: This document contains the number of payments you are receiving and the payments you have yet to receive. This form is secure to obtain, and if you don’t have it, you can contact your annuities company and get it from them.

These are the three essential documents you need to have. However, according to your case, you might need some extra papers. If you do, you will be notified.

Most brokers guarantee you that their representatives will only review these documents. Confidentiality is of the utmost importance to these companies.

To get started with the process of selling your annuity, call 866-508-0010.

How old do I have to be to sell an annuity?

Sell My Annuity Payments

This depends on the kind of annuity you have, the settled stipulations for your particular annuity, and the state you reside in. You have to be at least 18 years old to get an annuity.

Call 866-508-0010 for a free quote on your annuity and know what kind of annuity buyout you can receive.

What are the best annuity buyout companies?

JG Wentworth
Peachtree Financial
CBC Settlement Funding
Fairfield Funding
DRB Capital
Strategic Capital
SenecaOne

What can I do if I do not want to have an annuity anymore?

In this case, you have two options:

One is to surrender, which means to give up the annuity. Some people get tired of having to pay or have not received anything from their annuity, which was supposed to be something to guarantee a better quality of life. If you surrender before the contract period expires, then you will probably have to pay a fee for doing so. And sometimes that cost can be prohibitive.

The bottom line is that surrendering your annuity is rarely the best option for most people. The good news is that you can to sell your annuity instead. Selling your annuity means giving it to some other person or company in exchange for a lump sum of cash.

If this is something you would like to talk about further, call 866-508-0010 today!

Selling your annuities: Is it safe? Is it legal?

Understanding the ins and outs of annuity sales helps you make an informed decision when the time comes to sell yours. Selling your annuity is legal and safe; when you call  866-508-0010 today.

How can I calculate present and future value formula of an annuity? Is this relevant to selling my annuity?

The thing about calculating your future or present payments is that the formula can be a bit tricky for a lump sum payment. The reason why is it varies according to the type of annuity you have. It also depends on the kind of income or payment you are receiving. Different still is if you plan to gain from the annuity financially.

Remember, present and future value calculations are very relevant when it comes to selling your annuities. This process estimates how much you might receive from the structured settlement over time.

Be sure to contact a broker and tell them what kind of annuity you have, and they will take care of all these calculations for you and then send you a free quote after doing their detailed analysis.

Get started right now by calling 866-508-0010.

I need to buy a new car, but I don’t have the funds for this other than my annuity. Will selling my annuities ruin my retirement plans?

The goal is to provide you with an alternative solution to your current financial difficulties with real cash for annuity payments. Brokers understand the importance of annuities for your future and the difficult choices people face when deciding to sell them.

To see where you stand, call 866-508-0010, and get a free quote.

I’ve invested in longevity annuities but have changed my mind about waiting so long for my money. Can I sell a longevity retirement annuity?

Longevity annuities are different types of annuities. These are also known as “advanced life delayed annuities,” and the particular feature with these is that owners have to wait to be 80 years old for a payout! It’s for this reason that they are used mostly as a complement type of retirement investment.

You can sell these at any given time, but you may run the risk of losing a substantial portion of your investment due to the strict structure of these annuities. One of the most significant threats to longevity annuities is that if you die before age 80. Why? Your heirs will not receive any money from your investment.

Therefore it makes good sense for some to secure their money by selling it now and use the funds to make other, less risky retirement investments.

You might be interested in reading about the final rules passed down by the US Department of the Treasury regarding Longevity Annuities. Reference.

I need money right now, and I only have my annuity available. Can I get in trouble for selling an annuity before it’s due for payment?

Selling your annuity is legal in the USA. Every state has their regulations concerning the sale of annuities, as well as federal laws that monitor these sorts of transactions.

With that said, what you need is a broker that will understand the ins and outs of the laws involved in buying annuities from their owners.

You also want a broker that will provide all the expert advice you may need when it comes to selling your annuities to ensure you meet your financial goals. Getting that is easy. Just call 866-508-0010!

Can I sell my single premium immediate annuity (SIPA)?

What’s a surrender period? Does it influence selling my annuity?

A surrender period of an annuity is the time in which the investor must keep a certain amount of money (if not all) in the annuity account. A surrender fee is when you are charged a penalty for taking out your money before the surrender period ends. In some cases, it can be quite a long time before you can move your money out of the annuity account. Usually, surrendering periods shouldn’t influence annuity sales as each contract is crafted differently when your transaction is handled by a professional broker.

Call 866-508-0010 to get started with a free quote!

I want to sell my annuity using your services, how long until I get my free quote?

If you have most of your paperwork and information with you, it will only take a few hours to analyze your info and offer you a quote on your particular customized deal for annuity sales. Call 866-508-0010 to find out how much you can get!

How long does it take to sell the annuity and get the cash?

Each customer’s situation is unique, there are no two cases that are the same, so it’s difficult to give an estimate on time without reviewing your case.

Getting cash for annuity payments is crucial to you; we understand that. But everything must be done correctly and in the correct order.

Given any unforeseen obstacles, annuity processing takes from 3 to 4 weeks before you can officially sell them.

You can often get an advance before the final sale goes through. If you need cash today, call 866-508-0010 to see if you qualify.

Is selling my annuity a good cash deal?

It is quite a good cash deal, especially when you need or want a significant amount of money right away. You can pay off your debts; you can make substantial investments, you can improve your life. The list goes on.

You will be made aware in advance of all fees and taxes you will encounter upfront with the sale so you can make an informed decision.

What are you waiting for? Get your free quote now, call 866-508-0010.

What percentage does JG Wentworth take when buying my annuity?

According to Consumer Reports, JG Wentworth will retain a portion of your total remaining balance when you want to sell your annuity for cash in return for their services. The total amount they charge is called the “effective discount rate,” which includes all its fees, and can total 9 percent to 15 percent or possibly more, much more.

Want more cash in your pocket? Call 866-508-0010.

Can annuities be cashed in now?

People also ask: Can it be cashed or sold? Can you take money out? Can you take out a loan against it? Options to sell retirement annuity?

The short answer is “yes,” but you should talk to a qualified professional first. The reason is simple: taxes. The reason you set-up the annuity in the first place was for a tax-deferred investment. If you cash it out, you could be subject to taxes.

Every annuity is different, and by understanding all of your options, you can make the right decision. The last thing you want is to get hit with a hefty tax bill.We recommend that you review your plan’s rules as well as the current federal law. We are often asked, “Can you sell my annuity payments lump sum without penalty?”

That is a difficult question to answer without knowing some details about your annuity first. There are some annuities that do not carry any early termination fees. However, you might be required to pay taxes to Uncle Sam, which could make a move very costly.

How costly?

Sometimes as much as 10% initially AND income taxes on top of that. Ouch. We can review your annuity and advise you with the best strategy for your current financial needs.

There are sometimes higher fees, for example, with lottery winnings in some states. Make sure you have all the information to make the right decision.

Call 866-508-0010 to see how much cash your annuity is worth today.

Can I contact you by email about my annuity sale? How long will it take you to reply?

Frequently Asked Questions About Annuities

What is an annuity?

An annuity is a type of financial product that is usually sold by insurance companies.

Annuities consist of a divided lump sum amount into small annual payments. This setup is typical for retirement plans. These payments are cashed out steadily over the years in the future. Often these are paid over five, ten, and twenty years.

People often buy annuities to set up a steady source of income for their retirement years. Others receive annuities as part of a structured settlement following an injury accident. Annuities can also provide financial security.

Want a customized annuity? No problem. You can choose the size and regularity of payment for the needs of you and your family.

Lottery winnings are usually paid in the form of an annuity.

Ask your financial professional to base it on your retirement needs and goals.

You can also read more about annuities from the U.S. Securities and Exchange Commission.

Sell annuity payments

Getting started is as easy as calling 866-508-0010.

What are the advantages of owning an annuity?

An annuity is an investment towards your retirement years. Here are the most relevant reasons to get an annuity:

  • A frequent and reliable source of income.
  • Payments exempt from taxation, meaning: tax-free.
  • A lifetime investment, some annuities can even outlive you.
  • Immediate financial relief, annuities can be sold and be an instant source of cash.
  • Security for your family. Even if you die, your annuity will still be in effect and your beneficiaries continue to receive your payments.
  • You can sell your annuities anytime.

Are annuities a safe investment?

Yes, annuities are safe investments for your retirement years and your financial future. As with any investment, there are minor risks, such as insolvency. However, there are tips to minimize these risks, mainly if you pick the right insurance company to buy your annuity.

Only select your insurance provider after evaluating the company’s rating and reputation, read customer reviews, and check their financial records. Annuities are not just an investment for your future, but they are insurance for your peace of mind today.

If you have an annuity and suddenly need cash, you can sell your annuity. Once sold, you can use the money to cover your urgent needs.

We specialize in these transactions and can offer you the best rates for your annuities.

Topic: sell an annuity

What are the drawbacks of annuities?

As with any investment, it is essential to remember that the source of your purchase needs to be certified, legal, and trustworthy. If you do not, you run the risk of buying an annuity from a shady insurer that may never uphold the agreement.

Warning: Yes, there are unlicensed and unregulated companies out there, and while it will sound like a great deal, it will be high risk.

Annuities purchased from the wrong insurance company do have their drawbacks, so it's important to watch out for:

  • Expensive rates (discount rate) and unexplained administrative fees.
  • IRS fines should you cash in your annuity before the stipulated time.
  • Insolvency. Some insurance companies never pay their clients the designated monthly premium. You don't want that to happen to you.
  • Late payments; insurance companies may take too long to pay the required amounts. This will cause undue stress on you and your family.

It's essential to secure the services of a trusted third-party (such as us) to help you avoid the problems listed above to sell your annuity payments.

Search: drawbacks to selling annuities

Where can I get an annuity that I can later sell?

There are many ways to buy an annuity, and you can sell your annuities no matter where you obtained them or how (as long as they are from a reputable and licensed insurance company). Selling your annuity is your legal right, and you deserve the service of expert annuity brokers that can help you calculate how much you can sell them for and how long it will take.

You can get an annuity from banks, insurance companies, independent brokerage firms, or a mutual funds company.

Can my annuity be altered later on?

Typically, no. You will be only receiving money (future payments) from the annuity on specified dates based on the original annuity you purchased. We recommend getting your original agreement and reviewing it to ensure that the decision to sell your annuity is the right one for you.

However, if this was an annuity you set up solely for retirement, then it is possible to alter the payments. Review your policy or call 8..66-508-0010 and to see what the cash value of your annuity is. Once you know, you can make a decision.

What is the difference between immediate and deferred annuities?

Immediate annuities pay you back almost immediately (which is where their name stems from), as their names suggest. Once the processing of your money completes in the annuity, you start receiving your return payment. This type of annuity works very well for people who are retiring. Of course, these payments depends on the financial institution that is providing it and the terms of the annuity.

A deferred annuity is the one that accumulates its returns over a more extended period. However, the catch of this type of annuity is that you can’t take the money out before the time period ends, no matter how urgent your financial needs are.

Call 866-508-0010 to find out how much annuity your annuity is worth and if selling it is the right decision for you.

What are the types of annuities? Can I sell them?

One way to tell annuities apart is the handling of the payments. Here are the types of annuities in this particular category:

  1. Ordinary annuity: This type of annuity focuses on payment after each period that the contract states.
  2. Annuity due: Unlike an ordinary annuity, annuity due requires payment before each period that the contract states.

No matter which kind of annuity you own, ordinary or annuity due, you can sell them at any time. Call 866-508-0010 today!

What is the difference between fixed, indexed, and variable annuities?

Depending on whether you want to have a recurring stream of payments or a payment that can change, there are three different types of annuities. Let’s explore them below:

  • Variable Annuity. A variable annuity provides you with alternatives to invest. This means you may decide where to invest the annuity. This can translate into a growth or a decrease in income, depending on the investment you choose.
  • Fixed Annuity. A fixed annuity guarantees a periodic income paid to you depending on the contract, the institution holding the annuity, the money you put into it, and the amount of time you are contracted.
  • Indexed Annuity. An indexed annuity (also called equity indexed annuities) is technically a mix between a fixed and variable annuity. You obtain an annuity that works like a variable. The annuity can grow and decrease with the investments it holds, but it does guarantee a minimum return of money if things get tough.

Keep in mind that you can sell your annuity regardless of the type of annuity you have. Call 866-508-0010 to get help and guide you through the selling process. Should you decide to sell all or part of your annuity or structured settlement, the transaction can be handled from start to finish.

Can you withdraw money out early from an annuity?

It depends greatly on the type of annuity it is. Some have stiff penalties for early withdrawals. Others there are loopholes that financial experts can advise you about which can save you a lot of money and solve your current financial issues.

Not only do you need to review your plan, including any rules, you also need to check with the current Federal Law about the type of annuity you have. Often, if you withdraw from your annuity before you are age 59 1/2, you can be required to pay the IRS an early 10% penalty for early withdrawal.

But that isn't the end of it. You also may be subject to income tax on top of the penalty as well.

What kind of payout options do you usually get from annuities?

Payout options can vary according to the institutions that are running your annuity and what they offer. Typically there are four options for clients:

  1. Income for a guaranteed period. You contract a period of time in which you receive a specific amount of money. Usually, these periods are quite long, so they cover a large part of your life. You get to choose a beneficiary in case you die before the period ends, meaning your beneficiary (a person you want the money to go to like a child or wife/husband) will receive your payouts for the remainder of the guaranteed annuity period.
  2. Lifetime payments. Unlike the guaranteed period, your life factors into the basis of these income payments. The payments can be either variable or be fixed in nature and are determined based on how much you invest and in how long your life expectancy is. The catch is that when you die, you can not designate a beneficiary, and the remainder of your annuity money stays with the company providing payments.
  3. Joint and survivor annuity. This type of annuity depends on the coexistence of two people owning the same annuity. Both parties receive incomes as long as one or both parties are alive. This means that if you have this kind of annuity with your spouse, he or she will still get the payment when you die. If she or he dies before you, you still get the payment as well.
  4. Income for a lifetime a with a guaranteed period. This kind of annuity is a combination of a lifetime annuity and a period certain one. You will still get a guaranteed payout during your entire life and this includes a period specified phase. The good thing is (for others) is that if you die during that period of time, an heir or a beneficiary can still benefit from what’s left of that period.

These are the most typical arrangements, but you will find certain different features about each, depending on the company that holds your annuity. Some are less forgiving than others when it comes to contract terms. This is why it is essential to have a trained annuity broker assist you in your transaction.

Regardless of the payment method stipulated in the contract you can sell your annuity whenever you want. This flexibility ensures that you can cover necessary expenses in an emergency or when your life situation changes. Call 866-508-0010 to get a free quote today.

Are annuities received for personal injury tax-free?

As stated directly from the IRS, referring to Internal Revenue Code §104(a)(2) and §130(c), it says and clarifies that any money received due to a personal physical injury through a qualified and approved structured settlement annuity is exempt from taxation.

However, this full amount must be acquired through periodic payments as if received in a lump sum payment with a sell annuity option; the amount is generally subject to taxation upon the distribution. It may sound a little complicated, but this is how personal injury annuities work when you want to sell.

Source

Tip: Before agreeing to sell your annuity for a lump-sum payment, consult with a CPA or qualified tax advisor to see if you will be subject to taxes, and if so, how much. Don't make the mistake of skipping this step as it could mean thousands or even tens of thousands of dollars to you.

Does my annuity keep supplying payments after I die?

It’s vital that you ask all your questions to your insurance provider before you sign on the dotted line. If you wait until afterward, you could find yourself stuck in a situation you don't want to be. Make sure that coverage is active at all times and that in case you need to you can sell your annuity quickly.

Typically you have two alternatives: either the annuity stops paying out after you die or payments continue to go to the beneficiary that outlives you. In cases where the beneficiary does not live longer than annuity owner, then you have the option to change the payout structure. Although this can vary according to the institution, you have chosen to hire. Even if you die your beneficiary will still be able to sell the annuity should they wish to.

How do I make sure the insurance company is going to pay my annuity dues after so much time has passed since I bought it? Is it better to just sell my annuity?

To guarantee your investment, you need to do substantial research about the insurance company you chose to buy your annuities from. Next, perform a detailed analysis of their financial history. If the company goes bankrupt, you will most likely lose your investments, and you will not get your payments once you retire.

This is why sometimes keeping an annuity to be deferred for so long becomes risky. Another reason why selling your annuities could be a sound course of action is for the protection of your financial future.

You eliminate the possible risks of an unstable market, and you can invest the money you get from the sale in more stable ventures.

What happens to a fixed annuity when you die?

As with any of your other assets, you have the legal right of naming a beneficiary to receive your annuity in your unfortunate death. This can only happen, of course, before the annuity has been paid out in full. There are certain types of payout options available that ensure your beneficiary will receive the money in your annuity when you die. Check your paperwork as there are some annuities which pay you and only you and the payments stop at your death.

What is an annuity contract?

An annuity contract is a system converting cash or wealth into a steady stream of recurring revenue or income. You, as the investor, would give money to an insurance company or a broker. The insurance company, or the broker, would then agree to provide the investor with the cash benefit at a future date. Court approval is not needed is most cases.

What type of license is needed to sell annuities to consumers?

According to the Boston research firm Cerulli Associates in 2013, their report stated at least a state life insurance license, and sometimes a Series Six securities license is required to sell annuities in most states.

However, if you are looking to sell your annuity, call 866-508-0010 or by clicking the button on this page, to see how much your annuity is worth.

How much does it typically cost to go to a financial advisor?

Ensure you see a certified financial advisor so that you will be getting expert advice. What you don't want is getting someone's opinion which is not certified. Most certified financial advisors will charge based on your needs. Typical rates are $150-$300 per hour.

Of course, the chargeable rates vary based upon location, experience, expertise, and the current competition. For example, you will generally pay more for a certified financial advisor in a major city such as New York City or San Francisco, but less in a rural town.

How do I find the present value of my annuity?

The best and fastest way is to use an online calculator. The Financial Mentor has a free one you can use and you can access it here.

What is the difference between a qualified and a non-qualified annuity?

The difference is rather simple.

Qualified Annuities - funded with pre-tax funds.

Non-Qualified Annuities - funded with post-tax funds.

More differences:

Qualified Annuities:

Non-Qualified Annuities:

  • Deferred compensation.
  • Split-dollar life insurance.
  • Executive bonus plans (as their high-end needs can't be met with the strict ERISA guidelines).

 

 

Are structured settlements and annuities the same thing?

Structured settlements are most often used to settle workers’ indemnification cases, personal injury claims, and other types of legal suits. This means there is a regular payment structure, like annuities. Structured settlements work like any additional annuity as a regular payment (usually weekly, bi-monthly, monthly, or annually). The most common is monthly.

Structured settlements gained popularity in the 1970s when many who received sizable judgments blew through their money in less than a year. To protect these people's financial future and to keep them off of government welfare rolls, and also to avoid having such a financial strain on the defendant, the government advised for a solution to be set up in certain cases.

What are the differences?

Annuities are financial products that can be purchased by anyone to secure their future. There’s no need to file a claim or go to court to acquire one. Structured settlements are only used in instances of legal claims as a way to resolve the claim and give compensation to the injured party.

Annuities are a steady stream of income for your financial security and peace of mind, structured settlements are the same thing, but you get them as your compensation for an injury or legal claim.

Selling structured settlement is an option you have to get cash now for your future payments, but make sure you go through a vetted company which has your best interests in mind. Call 866-508-0010 today to get the cash you need.

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