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How does selling my annuity work?
Purchasing an annuity is a great way to secure steady income down the line. But life happens, and sometimes you need your money now, not later.
1
Contact us for a free consultation
2
Choose a customized option
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Get your money!
Benefits of Selling an Annuity
Get your cash sooner rather than later.
Cash out all of your annuity
or only part of it.
If your annuity no longer works
for you,
you have options.
Featured Annuity Articles
Selling Annuity FAQs
Many types of annuity payment streams can be sold. We will need to review your paperwork to determine if we can purchase your payments.
The process varies, but typically takes around 2-3 months from starting to receiving your lump sum. This accounts for the purchaser valuing your payments, getting insurer approval, finalizing paperwork, and funding your lump sum. More complex arrangements may take longer.
Yes, the lump sum you receive from selling is considered taxable income. However, you were also going to pay taxes gradually on the original annuity payments. That said we are not tax professionals and so you should speak with your tax or financial advisor to better understand the implications of selling your annuity.
Companies estimate the present value of all your future annuity payments using market discount rates. This calculated value is then reduced by a percentage to account for built-in profit margins and transaction fees.
Yes, most companies allow you to sell just a set number of your future periodic payments instead of the entire remaining stream. This provides you with some lump sum cash while still retaining periodic income from the unsold portion.