Sell My Annuity Payments

sell my structured settlement
Here are four method to find a buyer for your annuity

1) Determine if your annuity is Transferable

Determine if your annuity is transferable. If your annuity is not structured settlement transferable, then you cannot sell it under any circumstances. (If you need to sell your annuity because you need immediate cash, the best you can do with a nontransferable annuity is list it as an asset or form of income and apply for a regular bank loan.)

2) Calculate the Worth of your annuity

Before you shopping around for annuity buyers, find out what the resell value of your annuity is. All annuities offer tax-deferral from the time of your initial investment, but your distributions are taxable, so take that into consideration when you are considering selling your annuity.

It’s best to seek advice from an expert. Annuities are complex legal documents; if you are fuzzy on the details of your investment and its relative worth, you probably won’t get a fair price for your annuity.

3) Finding a Buyer

You can ask your insurance agent for recommendations and you can search online for reputable companies. You can conduct an initial search at no cost:

Visit websites that offer to buy annuities. Use their quote form to get a quote from them. You will have to give your name, email address and the name of your annuity, but that’s all the personal information you will have to give in order to get a free quote—and remember the quote is just that; you may not actually receive that amount, or the quote may not disclose the fee that will be deducted from the settlement when the transaction is completed.

4) Preparing Paperwork

You will need to have the proper paperwork in order before you can sell your annuity; you must prove it is your annuity and provide copies of:

Original annuity application

Actual annuity policy

Settlement agreement (if applicable)

Your most recent disbursement check and tax return (if you are already collecting on your annuity)

Valid government-issued photo ID (passport, driver’s license, etc.)

Declaration that you are selling your annuity of your own free will

Any other documentation the buyer requires, such as a copy of a court judgment (if it is a structured annuity), changes to the initial settlement or copies of any release agreements.