Many people know that structured settlement payments that are made through annuities can be sold for a lump sum. However, what some people don’t know is that payments received under other types of annuities that do not involve structured settlements can also be sold for cash. Some of those annuities include self-owned annuities, and those purchased for the payment of lottery winnings or for retirement purposes.
If you are considering selling your annuity payments, it’s best to understand what types of annuity payments you have before getting started. Each annuity contract is different, so the type, as well as the frequency and amount of the payments over time vary from case to case. In general terms, there are four different types of annuities: fixed, fixed index, variable and indexed. Please note though, that mainly fixed and fixed index are used for structured settlements.
A fixed annuity gives individuals a very secure amount of money that they are receiving every month. This can be great for those who are looking to have their annuity take care of certain bills each month. A fixed index annuity is quite different when it comes to determining how much income you will be receiving from your annuity over time. These annuities can fluctuate due to changes in the market. These can be a better option for someone who is looking to use their annuity as an investment tool for future purchases such as college tuition for a child.
A variable annuity is a very special type of annuity payment that is a little bit risky, but could have great rewards. If an individual is willing to wait through a process called the accumulation process, there is the prospect of higher income being paid each month. Individuals must also understand that there is still a chance for lower income as well. With an indexed variable annuity, you are assured that there is a minimum amount that you are going to get paid at the end of your accumulation process.
Although each of these types of annuities has its own unique benefits, the most beneficial option for you may be to sell some or all of your payments. If after considering your situation and all the facts surrounding your annuity, you decide to sell your annuity payments, look no further than DRB Capital.
DRB makes funding your transfer a top priority with experienced account executives. That is what sets us apart from other buyers of structured settlement and annuity payments. If you have any questions about types of annuities and how you can turn your future annuity payments or structured settlement money into a cash lump sum, please call us at 877-894-4541.