Doing Good by Selling Your Annuity

In any economy, those who do best economically often do so by carefully managing all of their assets and net worth for the long term. That may include setting up annuities or other investments to provide income in the future.

But as we all know, you can’t take it with you. That’s why many individuals may wish to make a cash gift to fund a college endowment or other charitable organization. For some, selling an annuity can be a way to fund charitable giving.

Annuities used to be seen as a fixed investment “for life”. Today, growing numbers of annuity holders are cashing out all or part of their asset in order to pursue various financial goals. Whether it’s for charity, for a financial emergency, or to establish a new insurance product such as a life insurance policy, it’s now possible to sell an annuity and get your cash right away instead of waiting to receive previously structured annuity payments.

Although it can make excellent sense to look at cashing out part or all of an annuity, there are many things to consider with this kind of transaction. When considering such a move, be sure to plan well ahead and first consult with a lawyer, a tax advisor, or other professionals knowledgeable in such matters.

When it is time to sell, annuity holders should look for a good partner to assist with their sale. The chosen firm should be able to handle the paperwork and legal requirements. Working with established structured settlement buyers or annuity buyers can take the chance and hard work out of a process.

At CBC, we have years of experience providing clients with the service and information they need to sell an annuity. Let us work with you to find the best way to free up money for whatever you have planned. 

For more information, please call 877-386-3377.

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