Whether it’s from an insurance policy or a structured settlement, annuities can provide a much-needed stream of income during retirement. However, what if you could get that money all at once instead of waiting for monthly payments? Selling annuity payments for a lump sum can be a great way to get the money you need all at once. There are a few things to consider before making the decision to sell, but ultimately it comes down to what’s best for your individual situation.
The first thing to consider is whether or not you need the money all at once. If you have other sources of income or can wait for the monthly payments, selling your annuity payments may not be the best option at this point in your life. However, if you need a lump sum of cash for an emergency situation or large purchase, selling your payments could be a perfect solution, and ultimately, it can change your life.
Contact us today to get started on selling your future annuity payments.
There are several reasons why someone might consider selling annuity payments. Perhaps the annuitant has suffered a financial setback and needs a lump sum of cash to cover expenses. Or maybe the annuitant has come into some money and wants to invest it in something with higher potential returns than the annuity. Whatever the reason, selling annuity payments can be a smart financial move. Other common reasons include:
You need the cash sooner. One of the most common reasons people choose to sell their annuity payments is because they need access to the money sooner rather than waiting for periodic payments. Selling your annuity payments can give you a lump sum of cash that you can use for any purpose you see fit. This could include paying off debt, making a large purchase, or covering unexpected expenses.
The payments are no longer enough. Sometimes life circumstances change and the periodic payments from an annuity are no longer enough to cover expenses. This could be due to inflation or an unexpected change in income, such as job loss or divorce. If this is the case, selling your annuity payments can provide much-needed financial relief.
You’ve been laid off or are about to be laid off. If you’ve recently lost your job, or are about to lose your job, you may find yourself in need of some extra money. While unemployment benefits can help cover some costs, they may not be enough to cover all of your expenses. In this case, you may need to sell future annuity payments to receive money sooner.
You’re facing unexpected expenses. Unexpected expenses can pop up at any time, leaving you scrambling to come up with the money to pay for them. Whether it’s a medical bill, car repairs, or something else, these types of costs can quickly add up, putting a strain on your finances.
You want to make a major purchase. Whether you’re buying a car, a house, or something else, making a large purchase can be expensive. If you don’t have the cash on hand to pay for it outright, you may need to sell annuity payments for a lump sum.
You’re investing in your future. You may need money to make a major investment in your future, such as starting a business or going back to school. The lump sum of cash you receive from selling your annuity payments can be just what you need.
You’re a retiree and living on a fixed income. If you’re retired and living on a fixed income, you may find yourself in need of extra money from time to time. Receiving a lump sum of cash can help you cover unexpected costs or make ends meet.
You’re facing foreclosure. If you’re facing foreclosure, you may need to come up with a large sum of money quickly in order to keep your home. Selling annuity payments may help you get that lump sum of cash you need.
If you ultimately decide to sell your annuity payments for a lump sum of cash, be sure to do your research and make sure that you are getting a fair price before agreeing to sell and that you are working with a reputable company. Working with a company that is experienced in this industry is crucial.
Another thing to consider when selling annuity payments is that you have options. You don’t necessarily have to sell all of your annuity payments to get the lump sum of cash you need. In fact, many of our customers decide just to sell a portion of their annuity payments. This gives annuitants the best of both worlds: they can sell some of their payments and get a lump sum of cash, but they can also keep some of their long-term payments intact. We are happy to explore these different options with you and help you decide which option is best for you.
These are just some of the reasons why you might consider selling annuity payments. If you find yourself in a situation where you need extra cash, and you want to avoid taking out a loan or depleting your savings, contact us today at 877-894-4541.