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Selling Your Annuity Payments
When you purchased your annuity, you worked with a broker or other financial planner to build the policy to help you pay for the things you wanted in the future. If you inherited the annuity, your loved one worked with their advisor to try to plan for your future as well. However, sometimes your life changes in ways you couldn’t imagine back during those planning sessions.
Maybe you’re looking to start your own business, invest in updating your home, or even make a down payment on a new one. Maybe your kids got into an amazing school, but tuition is just a bit more expensive than what you planned for. In life, the only constant is change. Shouldn’t your finances change with it?
Unfortunately, changing your annuity through the insurance company that manages it isn’t easy. In many cases, once you buy the policy, making changes isn’t possible. You’ll still get your money, but only in the small, regular payments you agreed to – even if you want more money to use now.
Fortunately, companies like J.G. Wentworth offer a solution. We’ll buy some or all of your annuity payments in exchange for a cash lump sum you can spend in as little as two weeks once you complete the required paperwork. In short, we get you your money sooner so you can spend it how you want it, when you want it.
Reasons To Sell Your Annuity
We understand that everyone’s situation and reason for selling is unique, but some common reasons for selling your future payments might be because you:
- Inherit an annuity and you’d rather receive a lump sum of cash instead of monthly payments
- Experience an unexpected life change which requires additional cash now, not future payments
- Need to make a change to your investment or estate planning strategy
- Realized your original reason for buying an annuity no longer applies to your circumstances
- Need a down payment for a new home or cash for home improvements
- Dream of starting a business of your own or investing in one
- Want to fund either your own, or the college education of a loved one
- Wish to use a lump sum to pay off debt acquired from credit cards, loans, or medical bills
- Require capital to fund legal expenses required for divorce
- Want to invest in real estate, the stock market, or retirement funds
No matter what the reason, our experienced annuity experts will speak with you to fully understand your situation to give you the best option to sell your annuity and meet your needs.
How Much Is My Annuity Worth
Figuring out how much cash your annuity is worth today is an important step when deciding if you want to sell it, but it’s not just a simple calculation. The company that issued your annuity, the special riders you placed on it to change how much money you received with each payment and several other factors change how much we can offer you for your payments.
Some of those factors that may affect the future value or your annuity and in turn, the sale price, include:
- Amount of remaining payments
- Term and frequency of your payments
- How soon your payments come due
How much you can get is largely determined by how many payments you’d like to sell and the length of the term for your payments. The Net Present Value, or NPV of your payments also comes into play when determining what we will offer you for your payments Watch this video to get a better understanding of how NPV works: