A lot of people are thinking of selling an annuity but wonder 'how will it work?' Indeed, this is a topic that confuses a lot of people. We Pay More Funding would like to provide some clarity on the matter for you so that you can decide if keeping or selling your annuity is best for your short-term and long-term needs and goals. Just remember, there's no reason to have to wait to get your cash when you don't have to!
How Much Money Will I Get from Selling My Annuity? How Will it Work?
If you are receiving an annuity that pays out over 20 years or more, and you want all of your cash now, We Pay More Funding is a great place to call to get the ball rolling. We offer recipients of periodic annuity payments lump sum cash payouts in exchange for the rights of their annuity payments. You will discover that We Pay More Funding offers a Best Price Guarantee, and we offer flexible options to our clients, such as the ability to sell all or part of an annuity.
We are typically able to get our clients the money they seek within just a few weeks from the time they apply with us. So, again, the best thing to do is to get the process started by giving us a call. The process is really simple and straight-forward. You file an application, sign some paperwork, and we do the rest. The amount of money you will get from selling your annuity is based primarily on three factors:
1. The dates your future payments are due
First, the dates that your future payments are due is an important factor in determining how much your lump sum payout will be. This is called 'present value.' Quite simply, the closer your future payments are to today's date, the more money they are worth. For example, a $50,000 payment due on January 20, 2020, is going to be more than that same $50,000 payment is worth if it is due on January 20, 2025.
2. The number of your future payments
Second, the actual number of future payments you will receive is certainly going to be a factor in determining how much money you will get for your annuity. Obviously, the more you sell, the more you'll receive in a lump sum payout.
3. The discount rate being charged
Third, the discount rate being applied is very important. Discount rates can range from anywhere between 9 - 25%, and for some cases, legal and processing fees will also apply.
Rely On We Pay More Funding
We Pay More Funding gives cash for annuity payments. To learn more about selling an annuity or how it will work, or to get a free quote, call us today. We can discuss your situation and advise you on your options and the pros and cons of selling your annuity. If you're thinking of selling an annuity but wondering 'how will it work?' we've got you covered!
Selling Annuity How Will It Work