Why Should I Sell My Annuity Payments

Whether you’re thinking of buying a house, starting a small business or paying student loans, using a portion of your future annuity or structured settlement payments can help you get back in control of your finances. When you face a serious need, accessing your annuity can be better than putting your life on hold.

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Depending on your reason for selling, you may need access to a specific amount of money at a specific time. There are several types of buyouts that can suit your financial needs. The three most common are entirety, lump sum and partial buyouts.

Partial buyouts, or selling a portion of your payments, still guarantees you’ll receive periodic income without losing the tax benefits. In the event you need immediate cash for a certain period of time, you can sell payments in exchange for a lump sum. For example, if you need to pay for a new car, you can sell years 1 – 4 of your annuity payments for a lump sum. After the four years have passed, periodic payments will resume.

The structured settlement will continue to carry those tax benefits and extend them to your heirs in case you die before collecting all your payments. In the event you need access to cash a second — or third — time around, you can buyout another portion of your remaining payments for a lump sum.

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