If you ever purchased an annuity, you got yourself into a situation that’s very difficult to get out of. There are often major fees involved if you ever want to take your money out of an annuity, so you’re almost stuck there. It might have seemed like a good idea at the time, but now it seems you have fewer options in the event that you need to liquiditate your money.

Fortunately, there are now options for people stuck in this situation. There are companies that will allow you to sell annuities that you might have. They will take a look at the agreement you have with the company or individual that is paying you the annuity and then offer you a lump sum quote for how much money they will give you to Sell Annuities that you might have. The company that bought your annuity will then take ownership and start receiving the payments that you would have had.

Quite often the companies that will allow you to SELL ANNUITIES will take about a 7% or 8% discount rate on your money. This means that their calculations relating to the value of getting your money now versus over a period of time (ie, the interest you would be able to earn on that money that you have now), at about 7% or 8%. This isn’t too unreasonable, but you definitely want to shop around if you plan on trying to sell an annuity or other structured setttlement.

Be very careful though, you don’t want to sell a annuity as a bandaid solution to a much larger problem. If you don’t have any money to begin with and you aren’t making any money, one lump sum of money will only delay your problems, not fix them. Ask yourself if you will be in the same situation, just delayed by a few months or a year, after receiving the lump sum of money that you might get initially.

This entry was posted on Friday, January 16th, 2009 at 2:50 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.