Annuitized payments can help offset your bills by providing a stable, reliable source of income over the long term. Most annuities are paid out over a significant period of time (including lifetime payments), which can offer considerable peace of mind for those with a limited income. However, that doesn’t mean that structured payments are ideal for all situations. If you’re asking yourself how do I sell my annuity, chances are good you’re dealing with this type of situation.
Is Your Need Applicable?
First, understand that you cannot sell your annuity for just any old reason. You can’t sell your payments so you can afford a nice vacation. You can’t sell just because you want to buy an RV or want to invest in a second home. All structured settlement sales (including your annuity) have to go before a judge who will determine if there is a need for the sale. That means that the first criteria you have to meet is need – your financial situation must be such that selling your annuity will be beneficial (or vital).
Once you determine if your need is likely to be applicable for sale approval by a judge, you need to find companies that buy annuities. There are plenty of them out there, but it can be hard to locate and contact them on your own. This will require significant legwork and time invested. Once you find several companies, you’ll need to get them to submit an offer and then vet the various offers.
Work with a Reputable Structured Payment Company
There’s an alternative to going it alone in this tricky situation. You can work with an experienced structured settlement company that has connections to the most reputable companies that buy annuities. When answering the question of how do I sell my annuity, having a helping hand in the process is invaluable. With the right brokerage, you can start receiving offers to buy your payments within mere minutes of submitting your information.
It’s not all about speed, though. Another benefit of working with a brokerage is the fact that you benefit from their experience and connections. This company works on your behalf to ensure that not only do you receive offers fast, but that those offers come from reputable buyers rather than unscrupulous companies. As you can imagine, that helping hand can provide some significant peace of mind, as well as a faster process.