You can earn cash for annuity payments. How much you will earn is based on the earned percentage when you first invested. It is best to speak with a financial adviser.
If you sell your annuity payment in exchange for a lump sum, you'll get your money faster but you won't get as much. Annuity selling comes with additional taxes and fees, including a 10 percent tax on the lump sum if you are younger than 60. People who prefer a steady source of income should keep their annuities.
There is a company called Woodbridge Investments that will offer you cash for your annuity, if you wish to sell it. Otherwise you should contact the insurance company that provided you with the annuity and ask them.
There are plenty of companies that sell annuities, e.g. https://www.jackson.com/Index.jsp . Once you make the payment and it matures, you can get a guaranteed monthly payment for life.
One has to first prove that the annuity is theirs to sell. This requires photo identification, a copy of the annuity policy, a copy of the annuity application, as well as copies of tax forms in some instances. A broker can then be hired to sell the annuity, or a person can do it themselves. Woodbridge Structured Funding and Liberty Settlement Funding are two, of many, companies that offer online services to a person looking to sell an annuity.
You can visit a company like mystructuredsettlementcash to sell annuities and structured settlements. They have lists of buyers to take over your annuity payments.
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There are various secondary markets, many are online, that will buy your annuity and give you a lump sum payment. Typically, you would get more money though if you take the monthly allotment rather than the lump sum, so one should read and calculate the terms carefully.
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There are a variety of companies that sell leads for annuity sales. One such company is Lead Exchange. They offer a mailing list to companies that pay for it of different leads of other companies and such.
A good starting point is the present value of the annuity, see related link for the formula.You need to know how many years the annuity is good for, and estimate an interest rate. This is generally the interest rate someone could get for the money elsewhere, for example on government bonds. (Since buying your annuity would tie up the money for years, the interest rate for long term papers is the most relevant.)If we assume a 20-year annuity, 5,000/year and 5% interest, the total payout from the annuity is 100,000 and the present value is ~62,000.You would probably need to sell it for less than present value to make it a better alternative than bonds. How much less depends on the buyer. As an example, if the buyer wants 2% extra interest for the trouble, you can plug in 7% in the formula and get a current value of 52,970.See the link for the formula and calculate for your own numbers.
Explain! Yes is not an answer...
All reputable annuity suppliers will provide a hybrid annuity. Please talk to your financial adviser to select the best one for you. Some people may not realise that a hybrid annuity is nothing more than a name for a fixed index annuity with a guaranteed lifetime income rider. An investor buys units of a variable annuity and the balance of his portfolio is used to buy units of a fixed annuity.