Getting The Best Quote For Your Annuity Sale

Are you receiving small monthly payments from an annuity or structured settlement? Would you rather have a single lump sum of money all at once? If so, you should consider selling your annuity to a company for cash. Many people are interested in conducting an annuity sale for cash, resulting in a growing industry where companies purchase the rights to your future payments and give you a lump sum of money that you can use however you wish. Before choosing a company to do business with, it is important to get a quote from the company to see how much they will be willing to give you in exchange for your payments. Here is how to get the best quote for your annuity sale.

The best companies in the annuity sale industry give interested parties free, no-obligation quotes to help them make an informed decision on whether that company is the right company to sell their future payments to. To create an accurate quote, the company will need information about the annuity or structured settlement that you are interested in selling. The accuracy of this information will affect the accuracy of your quote, so it is important that you are submitting the correct information to the company you are interested in. You can choose to sell the entire amount of your future payments or a portion of them, retaining the rights to the rest.

To get an accurate quote from each company, you will need to provide the company with the amount of money that is in your annuity, the due dates of your annuity payments, and the number of payments that you would like to sell. The company will use this data, along with current market rates and the costs of any fees, to come up with a number that they are willing to offer you as a lump sum for your future payments. The discounted amount you receive will be affected by the amount of time the company will spend waiting for payments and the effects of inflation over time.

Obtaining a quote from a company interested in purchasing your future annuity payments generally doesn’t take very long. In fact, some companies advertise that they can provide you with a quote within minutes after the submission of your information. Because the company is not loaning you the money, your credit score and credit history will not come into play while the company is making the determination of what they are willing to pay for your annuity. The financial data in your annuity contract and current market rates for these types of transactions will be the main information used. You will be under no obligation to accept the quote that the company has provided to you, so obtain quotes from several different companies to determine which one has the best deal for you.

photo courtesy of Simon Cunningham