Are you trying to find out who will buy annuity payments. Look no further. How to Find a Buyer for Your Annuity
What is an annuity buyer?
An annuity buyer is a company that offers cash to annuity beneficiaries or recipients who want or need money in exchange for rights to their periodic payments.
Who purchases annuity payments?
If you have an annuity or structured settlement and are interested in selling your payment rights in exchange for a lump sum payment, there is a market full of companies, aside from us, that are seeking to do business with you.
How to find the best annuity buyer
Review our list below as we have listed most companies in the secondary market. As important as it is to understand a company’s reputation, it is more important that you are treated fairly. Relevant factors you may want to consider are as follows:
- Whether the company can be easily contacted.
- Whether the customer service representatives are cooperative and easy to deal with.
- Whether their offer is fair and competitive in the current market.
- Whether their representatives clearly explain the timeline and available payment options.
- Whether they are properly licensed and are in compliance with applicable laws.
- How do you feel about the process and service being provided to you?
And, as with most other transactions, be sure to shop around for a variety of quotes. Sometimes the company giving you the best quote won’t necessarily have the best reputation. So, it’s important to balance all these factors against each other before making a final decision.
If you are feeling overwhelmed with the available choices and you can afford it, you may consider retaining the services of an attorney experienced with the secondary market for annuities.
Getting a fair quote
Yes…if you contact us for a quote. Remember that the quote is for a discount of the present value of your payments. According to industry group the National Association of Settlement Purchasers, the industry maximum for discount rates is approximately 18%. Other factors that will impact your quote include the following:
- The number of payments you are seeking to sell;
- The amount of money you are contracted to receive;
- Your payment schedule, including when will your payments arrive;
- The current state of the market;
- Rating of the insurance company that issued your annuity; and
- If any fees or other charges will be owed if the annuity is transferred.
After you shop around for a number of quotes, you will get a sense of what you can expect to receive for your annuity or structured settlement in the current market.
Do you have an investment annuity that you are interested in selling? Please call us or complete our contact form.
Evaluating Your Annuity
- Determine whether or not your annuity is transferable. If your annuity is not transferable, then you cannot sell it under any circumstances. Check your contract to see if it is transferable. If you are trying to get immediate funds, list your nontransferable annuity as an asset or form of income and apply for a bank loan.
- 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 have to be approved by a state court. The Periodic Payment Settlement Act protects those who received a cash sum as a result of personal injury and wrongful death lawsuits, from spending the awarded money too quickly, which may then force them to turn to public assistance to meet their needs.
- Don’t try to sell a structured annuity by yourself, especially if you are living in a state that does not have a structured annuity protection law. Talk to a trusted broker and attorney before you proceed.
- Evaluate your annuity. Before you shop around for annuity buyers, find out what the resale value of your annuity is. Hire an accountant if you are unclear on the details of your investment and its relative worth. Keep in mind that selling your annuity always result in your receiving a lower amount of money from your annuity. You will get a lump-sum payment that is adjusted with a discount rate, meaning that you’ll get about 8 to 14 percent less than you would if you waited for the payments
- Understand the tax implications of selling your annuity. All annuities offer tax-deferral from the time of your initial investment. Your distributions, however, are taxable. This means that your annuity grows tax-free in the accumulation phase, but is taxed as distributions are made to you. These payments are taxed as ordinary income.
- Gains made by selling your annuity before it matures are taxable as ordinary income. However, losses on the sale are not tax-deductible as investment losses.
- If you withdraw from an annuity before age 59.5, you are also charged a 10% tax penalty. However, exceptions are made in various cases, such as the death or disability of the annuity holder.
- You can also trade your annuity for another qualified annuity contract without paying taxes on the first annuity. These “1035” exchanges can be tricky, so check with a tax accountant or investment adviser before proceeding.
Companies that will buy your annuity:
- Axos Bank
Telephone: (855) 232-2967
Address: P.O. Box 509127
San Diego, CA 92150
- Catalina Structured Funding, Inc.
Telephone: (800) 317-3769
Address: 2626 Foothill Blvd., Ste. 200
La Crescenta, CA 91214
- Genex Capital Corporation
Telephone: (800) 348-3098
Address: 73 Greentree Drive #99
Dover, DE 19904
- DRB Capital
Address: 1625 S Congress Avenue, Suite 200A,
Delray Beach, Florida
- Novation Settlement Solutions
Telephone: (888) 797-3740
Address: 1641 Worthington Road, Suite 410
West Palm Beach, FL 33409
- Client First Settlement Funding
Address: 301 Yamato Road, Suite 3200
Boca Raton, FL 33431
- Fortune Settlement Solutions
Telephone: (833) 736-7886
Address: 8000 Governor’s Square Blvd.
Miami Lakes, FL 33016
- Liberty Settlement Funding
Telephone: (855) 643-0333
Address: 633 South Federal Hwy, 1st Floor
Fort Lauderdale, FL 33301
- 123 Lump Sum Ltd.
Telephone: (800) 397-6721
Address: 3625 W Broward Blvd.
Fort Lauderdale, FL 33312
- BH Fast Funding LLC
Telephone: (833) 777-6500
Address: 20203 NE 15th Ct,
Miami, FL 33179
- WePayMore Funding LLC
Telephone: (877) 431-0704
Address: 16 NE 4th St. Suite 210
Fort Lauderdale, FL 33301
- Singer Asset Finance Company, LLC
Telephone: (800) 670-6777
Address: 2255 Glades Rd E, Ste 118
Boca Raton, Florida 33431
- Rightway Funding, LLC
Telephone: (844) 516-6639
Address: 600 Corporate Dr, Suite 100
Fort Lauderdale, FL 33334
- Rising Capital Associates
Telephone: (866) 444 – 5061
Address: 5300 West Atlantic Ave. Ste 200
Delray Beach, FL 33484
Address: 1 S. Orange Avenue, Suite 200
Orlando, FL 32801
- Fairfield Funding
Telephone: (855) 304-9970
Address: 1441 Dresden Dr
Atlanta, GA 30319
Address: 7920 Norfolk Avenue, Suite #300
Bethesda, MD 20814
- New Leaf Structured Settlement
Telephone: (800) 517-7671
Address: 3700 Koppers St, Ste 143
Halethorpe, MD 21227
- Stone Street Capital
6130 Executive Blvd., Suite 310
Rockville, MD 20852
- Strategic Capital
Telephone: (866) 256-0088
Address: 575 Madison Ave Ste 1006
New York, NY 10022
- Northwest Life Settlements
Telephone: (503) 642-5328
Address: Beaverton, OR 97006
- JG Wentworth
Address: 1200 Morris Drive
Chesterbrook, PA 19087
- Peachtree Financial Solutions
Telephone: (800) 821-7773
Address: 1200 Morris Drive
Chesterbrook, PA 19087
- CBC Settlement Funding
Telephone: (800) 843-9020
Address: 181 Washington Street, Suite 375
Conshohocken, PA 19428
- Annuity Transfers, Ltd.
Telephone: (972) 952-0260
Address: 1800 Preston Park Blvd, Ste 115
Plano, TX 75093
- RSL Funding LLC
Telephone: (800) 543-6513
Address: 1980 Post Oak Blvd, Ste 1975
Houston, TX 77056
Telephone: (800) 520-2844
Address: 14755 Preston Rd
Dallas, TX 75254
Telephone: (888) 999-8606
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