Because resulting tax consequences differ from case to case, it is best that you refrain from selling annuity payments until you get professional advice.
Decide how much of your payments you really need to sell.
Carefully calculate how much money you need and then sell payments just enough to add up to that amount. Always bear in mind that the secondary market of annuities and structured settlements is flexible. Accurately determine the urgency of your need and never act impulsively.
Before you sell annuity payments for cash, make sure you’ve contacted more than a few reputable buyers.
The first party you should contact is your insurer. Attempt to get the initial quote from them then use it as a yardstick for other offers. Select a few reputable annuity buyers and get quotes from them. Many buyers offer free quotes; therefore there is no excuse for settling with the first figure you are quoted.
