Is Getting Out of an Annuity Possible?
While getting out of an annuity may be easy, it will not be financially profitable. You'll take a financial loss through your decision to sell an annuity to a buyer; however, selling could be in your best interest if any of the following situations apply:
- You've found a buyer who is willing to give you the price you're looking for
- You need an immediate cash flow solution
- A life event has created financial chaos
- You've found the home of your dreams
- You need money to start a business
- Your annuity payments are not large enough for practical use
When Should I Consider Getting Out of an Annuity?
If you're spending most of your time waiting for annuity payments to come in so you can pay bills or buy things you need, a lump sum of money may be the better option for you. In cases when annuity payments are not enough to carry over to future months and improve your quality of life, there's no reason not to consider selling to an annuity buyer. Here are a few things to keep in mind while looking for a buyout company:
- WePayMore Funding offers a Best Price Guarantee
- Most annuity companies are more interested in their best interest than yours- so it pays to spend time looking for the best quote
- Once you sell, it's too late to change your mind
- Beware of hidden fees and charges that can reduce the amount of your buyout offer
When Will I Get Paid For My Annuity?
The time frame of payout does not change much from company to company. You can expect a 45-90 day waiting period before you'll receive your payout- with a few exceptions. At WePayMore Funding, we are sometimes able to speed up the process, depending on your circumstances. Meeting with us during a consultation is the best way to find out how much your annuity is worth and how soon we can get you your money. While not typical, we've been able to help some clients with a 2-5 day payout.
How Do I Get the Most Money For My Annuity?
Comparing quotes is an excellent place to start- or you can avoid the hassles of contacting companies and calling around by speaking directly with our team at WePayMore Funding. We guarantee the highest payout when you're looking into getting out of an annuity- up to 20% more than any quote you receive from another agency. What can 20% add up to? If you receive a cash offer of $50,000 for an annuity, we'll pay up to $10,000 more.
Use our online annuity calculator to determine the value of your annuity or call us now to speak with a WePayMore Funding expert. A higher quote means significantly more money in your bank when all is said and done. Our agents have your best interest as our focus of attention throughout our entire transaction with you.
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