Selling Annuities: How to Spot a Good Deal
Sell Annuities To Get Immediate Lump Sum Cash
The primary reason someone opts to sell annuities is to get a lump sum of cash for immediate spending. If you are thinking of selling an annuity, ask yourself how much of it are you willing to sell? Whether you sell all or just a fraction of it, you can be sure that you will receive considerable income from your sale. Planning and diversifying your investments are the best ways to increase your profits.
When selling an annuity, you may opt to find a reputed and reliable company to do the selling for you. Such large companies possess the resources and expertise needed to complete such transactions.
Sell Your Annuity Directly!
Another option is to sell annuities directly to the person who wants to procure it. Although this is not commonly exercised by annuity payment sellers, it will make you seem more trustworthy to the buyer because you are willing to deal with them personally.
Here are some issues you have to address
when looking for prospective annuity payment buyers:
• Are the contact details and business information verifiable?
• How long has it been since his business was established?
• Does he own bonds or insurance policies?
• What are the underwriting criteria?
• What rating does he hold with the Better Business Bureau?
• How many annuity plans does he buy every year?
• Does he handle annuities similar to yours?
• Does he have knowledge regarding your company and state laws?
• What pricing will he put on your annuity?
• Is he a principal or a broker?
• Does he provide timelines for the process?
• Is he connected to a large company?
• Does he use several financial sources in the quote?
• Does he handle business communications professionally?
These are but a few of the many questions you must answer before you sell annuities. The annuity sale process can take as long as 2 to 4 weeks. Although the long wait can feel inconvenient at times, you are sure to enjoy the inevitable satisfaction of receiving a large sum of money you can spend as you please.