Selling Annuity Payments

Although an annuity is meant to provide steady income, when you retire, there's circumstances under which you might select to sell your annuity.[1] You might select to sell your annuity in order to buy a home, invest in a business, or to cover the costs of an emergency. Perhaps you have done the math & discovered that your annuity is not the best most profitable option for you, & you'd like to reinvest. To find the right buyer for your annuity, start by deciding what kind of sale you need to make. Look for buyers who can give you the terms you desire. If time permits, get competing offers than going for the first buyer you find. Determine if your annuity is a structured settlement. Check your contract or consult your accountant to learn about the laws in your state. Most states have laws that protect people trying to sell their structured annuity. If your state has a Structured Settlement Protection Act, your transaction will must be approved by a state court.[2] The Periodic Payment Settlement Act protects claimants, who received a money sum because of personal injury & wrongful death lawsuits, from quickly depleting their assets, & turning to public assistance to meet their needs.[3]