Even now, many Americans are unaware that they are able to sell annuity or structured settlement payments for a lump sum of cash.
While your insurance company is not allowed to change your annuity payments in any way, you may have the freedom to sell annuity payments to a national banking or investment group.
Calculating the Worth of Your Annuity Payments
Your future annuity payments are appraised by considering a combination of many factors such as the exact date and amount each payment is sold.
Successfully Selling Annuity Payments Means Selling as Little as Possible
Don’t ever sell all of your future annuity payments unless you really have to. Sell just enough of your payments to fulfill your financial needs and hang on to the rest of your income stream. Keep in mind that the farther in the future a payment is, the smaller it is actually worth.
Expect to wait six to eight weeks to receive the lump sum. The process of selling annuity payments takes that much time more or less.
