SELL ANNUITY PAYMENT

Sell Annuity Payments

Investment annuities offer a means of saving for retirement, allowing you to defer tax payments on the funds you add to the account, and guaranteeing a steady income over a long period of time. As long-term financial products, annuities are often purchased with specific financial goals in mind.
Annuities have some drawbacks, however. You can only access funds once the annuity matures. Draw money out of the annuity before that point and you may pay costly penalties. Also, commissions and annual fees could deplete the annuity balance by as much as three percent each and every year.

Reasons to Sell Annuity Payment Portions

When financial circumstances change, you may need access to the capital locked away in your annuity. The reasons to trade cash for annuity payments vary, but common motivations include:

Buying or renovating a home
Funding a business startup
Investment opportunities
Paying college tuition
Paying off debt

If you inherited an investment annuity, you may simply prefer the freedom of a lump sum rather than long-term structured payments, which may not meet your financial needs.

Annuity Sales Restrictions

Not all investment annuities can be sold or assigned. Also, IRAs, 401(k) accounts, and 403(b) accounts are not eligible for Woodbridge’s Cash for Annuities program.

Preparing to Sell

You choose whether to sell the entire annuity or a portion of the payments. Selling the entire annuity will result in more cash per payment sold. On the other hand, if you instead decide to sell only a portion of your annuity payments, the remainder will still belong to you and will provide you with a steady stream of future income.

Cash for Annuity Payout Amounts

The lump sum payout you would receive from an annuity sale through Woodbridge depends on a number of factors, including the total amount of payments being sold, the time period over which those payments occur, whether or not your annuity has a death benefit, and prevailing interest rates. Before committing to any such sale, Woodridge recommends that you consult a financial advisor and tax professional.
Woodridge Structured Funding’s talented and experienced Account Executives can help you sell your annuity payments. Our firm pioneered the sale of structured settlement, investment annuity, and contest prize payments, and we remain a leader in the field, dedicated to helping you meet your individual needs.
With a proven track record of success, Woodbridge has turned heads across the country and coast-to-coast. We guarantee we’ll beat any legitimate offer made by a competing structured settlement factoring company. Why settle for less? Contact us to discuss the sale of your annuity payments today.

Sell My Annuity for Cash in the USA

With the biggest payouts in North America we wanted to extend a special thank you to all of our Annuitants for making us the largest buyer. Thanks to great customer service and maximizing our payouts to annuitants just like yourself we continue to excel in the market.
Have an annuity payment that you want to trade in for cash now? Well today you can cash in your annuity with “CIYA” the leader in fast payouts for annuitants. Are program designated to purchase your annuity payments are facilitated and limited to residents of the United States so if you are in Canada, Mexico, or Central America then we are not easily able to facilitate a deal for yourself.
Our process of selling annuity payment streams are fast and simple. Our expert advisory staff work with you based on your wants and needs and can get you the funding needed in as little as 24 hours.

How to sell annuities

When you decide it’s time to raise money for a quick lump sum payment we are here to help at CIYA. Whether it’s money being used to help your family get their first home, starting a new business to become the next Donald Trump, or paying off student debt we are here to help you with the best solution and highest payout possible. You can sell part or all of your future annuity payments.
A Deferred annuity payment is not helpful to our clients who need cash now. While the asset grows and is tax deferred and distributes payments as a periodic payment, lump sum pay out, and or annuitization.
Some of the benefits of keeping your annuity is that your money can continue to grow tax deferred, is almost always AAA rated paper backed by the biggest insurance companies in the world, is guaranteed against losses and hedging your downside on your investment portfolio, income lasts and is reliable.

Why You Should Sell Your Annuity Payments

Some of the big drawbacks far outweigh the benefits and thus why we offer to purchase annuity payments from clients to help them when they need it most. The complexity of these financial instruments come with very expensive fees and are hard for most individuals to understand, you end up giving up the lump sum payment option if you purchase an immediate annuity or decide that you want to annuitize your deferred annuity contract, your cash is tied up and you can’t get to it unless we help you to facilitate a sale, Surrender charges and IRS do cause big penalties if you want to take money out before you turn 60 years of age.
No matter what you decide we are proud to help you to figure out the best route for you to take with your annuities. We can purchase payments in all 50 states as listed below.

Want structured settlement cash now? Not so fast!

Man counting money © Sergey Mironov/Shutterstock.com

Looking for cash to stay afloat? You're not alone. There are those who have a need for money and will turn to some unusual places to get it.
Selling annuities, structured settlements, scheduled lottery payoffs or other ongoing payments for cash became more popular during the recession. But if you're still feeling the cash crunch, this tactic is a potential option.

Unless the financial predicaments are dire, most financial advisers recommend against cashing in annuities or structured settlements. Selling off an annuity can trigger surrender charges as high as 10 percent, and those who sell before age 59 1/2 can also face federal taxes and penalties. Structured settlements are attractive because they generally provide tax-free income for life.
Yet, sometimes cashing in is the only option. That $500 monthly payment from an old accident may have helped with medical bills early on, but if the beneficiary lost his job and fell behind on some bills or had to make significant costly repairs to his home, a lump-sum payout of $50,000 may seem quite enticing.

Downsides of cashing in your settlement

Selling off an annuity can cost surrender charges of up to 10 percent.
Selling before age 59 1/2 can trigger federal taxes and penalties.

Americans have a great deal of money tied up in structured settlements and annuities, with a little less than $6 billion worth of new structured settlements written each year, according to the National Structured Settlements Trade Association. At the end of 2013, there were also 34.8 million individual deferred annuity contracts in place exceeding $2.58 trillion, according to LIMRA Secure Retirement Institute, a nonprofit research trade association for the financial services industry.

It's my money, and I want it now!

J.G. Wentworth is one of the world's largest buyers of structured-settlement payments and annuities. It handled more than $2 billion in payment transfers between 1994 and 2009.
In 2009, then-chief marketing officer Ken Murray said that the company had seen a steady increase in customer inquiries following the economic downturn. Despite what was happening in the economy, there were always people looking to sell annuities, structured settlements and lottery winnings, Murray said. Due to the nature of the business, buyers of payments usually see customers when they are in some sort of financial predicament.
"Historically, the common denominator is people who need cash, but there are some new reasons we are hearing more frequently than others as a result of the recession. It might be the fact that they lost their job or their mortgage payments have increased," said Murray.
The company declined to provide an update on whether inquiries were on an upswing.
Some television commercials and advertisements may seem to imply that getting a quick cash payout on a structured settlement or annuity is just a phone call away. Rather, it's a court-controlled process that comes at the discretion of a judge. A phone call to an advertised 800 number is only the beginning of a lengthy process, and a regulatory framework mandates that every single transaction go before a judge, who must decide whether the transaction can move forward.
The payee, the structured settlement holder, must prove that they have a legitimate need for the money and calculate the payout amount that they are requesting. While regulations for annuities and lottery winnings can differ, the payee can't turn a structured settlement into cash simply because he wants a new car, a nice vacation or an RV to tour the country. In order to keep unscrupulous companies at bay, most state laws also require that the transfer of the settlement rights be in the best interest of the payee.

How does it work?

When a structured settlement holder calls, an agent and team will review the settlement, circumstances and reasons the applicant needs the cash. If they decide to move forward, they offer the payee an upfront sum to surrender the stream of payments, along with a discount rate.
This discount rate, which is typically between 6 percent and 29 percent, is comparable to the interest you would pay on a loan, says Grover Christopher Collins, managing partner at the Collins Law Firm in Nashville, Tennessee. As such, the lower the discount rate, the better the deal.
"You can negotiate," Collins says. "It's not a take-it-or-leave-it proposition; and you can also shop around."
Once you do accept an offer, however, the company will file a petition for transfer of the structured settlement in court in the state the company is in.
"The judge is the final arbitrator of whether it gets approved or not," Collins says. Rulings are made based on, among other things, what the person needs the money for, what the discount rate is and the structured settlement company's reputation.
Exact processes will vary depending on jurisdiction, but from the time a payee calls to the time they receive money can be as little as 62 days or as long as 90 days, Collins says.
David Lewis, senior vice president and general counsel with Stone Street Capital LLC, says few people sell their entire transactions at once. Payees usually sell a portion of their payments, just enough to meet their financial needs, and offers from companies are detailed in disclosure statements with discount rates and all the information they need to make an informed decision. Lewis says other factors that go into determining the payment amount include: in which state the payee resides, the payments they want to sell and the size of the payments.
"It gets pretty complex and, regrettably, has become more complex recently. The amount is a function of many factors, and these factors are more sensitive today than they might have been (in 2008)," says Lewis.
Lewis specifically points to insurance companies that have seen their credit ratings downgraded. The cost of funds and capital has also gone up, and developments throughout the credit markets can have big implications in the structured settlement industry. Right after the 2008 banking crisis, fear spread about the vulnerability of cash and assets kept in certain institutions. Despite the fear and bad press, many people weren't looking to cash in their payments in a panic that they wouldn't be there, Lewis says. A judge also would be unlikely to accept that fear as a reason for selling payments anyway.
"If someone called for that reason, we wouldn't do business with them and would just tell them not to be worried. We would be buying that annuity anyway, so if we thought it wasn't going to be good, we wouldn't be buying it in the first place," says Lewis.

Sell Your Annuity Payments. We’ll Help Step by Step.

There are many reasons you might need or want to sell an annuity payment stream. For example, you might:

Inherit an annuity and would rather have a lump sum of cash instead of monthly payments
Experience unexpected life changes that require additional cash now, not future payments
Need to change your investment or estate planning strategy
Realize your original reason to buy an annuity no longer applies

If you’re facing these circumstances, or others, we can help. We can assist in getting cash for your annuity payments. With the money, you can start a new business, pay off debt, pay for school or buy a home.

Find out how to sell your annuity.
With the proper paperwork, we can provide you a quote in just a few minutes. Just call us at [dynamic phone number] to receive a free, no-obligation quote from one of our representatives

Get cash from your annuity payments.
Transactions can generally fund within two to three weeks after we get a completed contract from you. This time may vary by customer because every circumstance is unique. We understand how important your money is to you, and we work very hard to make sure you get cash from your annuity payments as soon as possible.

Other questions? Just talk to us.
Call us anytime or visit our Annuity FAQ to get quick answers.