Sell your Structured Settlement Annuity

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What is a Structured Settlement

A structured settlement is a type of annuity arranged with an insurance company.

Structured settlements are typically issued to individuals who have suffered harm as a result of a personal injury.

In some cases where the victim is owed money from another party as a result of a personal injury, the federal government encourages these victims and their families to utilize structured settlements issued by the insurance company who insured the party at fault. For example, if you were injured in a car accident, you may receive a structured settlement from the insurance company that covered the driver responsible for the accident.

Some of the lawsuits that can result in a structured settlement:

Personal Injury

If someone was injured in an accident and another party is found responsible, they may offer to compensate the victim with a structured settlement annuity.

Liability

If you have experienced some loss as a result of a faulty product or other loss resulting from the misconduct of a company or individual, that claim could be resolved with a structured settlement annuity.

Harassment

If you have encountered behaviors which are offensive, threatening, or disturbing, your claim can be resolved by receiving a structured settlement annuity.

Malpractice

If you've been wrongfully treated by a medical professional, your claim could be settled with a structured settlement annuity.

The structured settlement annuity is offered by the insurance company who insured the party responsible for the injury as a way to compensate the personal injury claim victim without paying a lump sum of cash up-front.

Sometimes a structured settlement annuity is better for the victim at the time of their accident, but often the victim’s circumstances change and they may need a lump sum today.

The recipient of a structured settlement annuity will receive these periodic payments tax free from the insurance company.

Structured settlements benefit the personal injury victim by insuring they receive a steady stream of future income, which is particularly important for minors or victims who have had life altering injuries and may be unable to earn income over their lifetime.

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Structured Settlement Transactions

JG Wentworth Structured Settlement Company

201 King of Prussia Road, Suite 501, Radnor, PA 19087

Peachtree Financial Structured Settlement Company

330 I Quantum Boulevard, Boynton Beach, FL 33426

Novation Capital Structured Settlement Company

1641 Worthington Rd, West Palm Beach, FL 33409

Seneca One Structured Settlement Company

7920 Norfolk Ave #300, Bethesda, MD 20814

Settlement Capital Structured Settlement Company

14755 Preston Rd #130, Dallas, TX 75254

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Why Sell my Structured Settlement Annuity

There are many reasons to consider the sale of your structured settlement annuity.

Often times the reason is simply that the annuity payments coming in over time are no longer appropriate for the needs of the recipient. For example, the structured settlement annuity could have been awarded when the accident victim was a minor, but now as an adult with a full time job they would benefit more from receiving a lump sum of money today.

Sometimes there are very specific reasons why small periodic payments do not meet the needs of the structured settlement annuity recipient, and only a lump sum can help accomplish their goals.

Some of the reasons are:

Buying or repairing a home

Use a lump sum to make a down-payment on your new home or make repairs to your existing home.


Starting or investing in a business

Use a lump sum of cash as start-up capital for a new business or to grow an existing business.


Funding a college education

With the costs of tuition sky-rocketing, you can use a lump sum to pay for college while keeping your family debt free.


Paying off debt

Use a lump sum of cash to pay off credit cards, consumer debt, student loans, and medical expenses.


Divorce

Divorce can be financially devastating. Use a lump sum to fund your legal expenses up front and get the best settlement possible.


Investing

You can use a lump sum to invest in property, stocks, or retirement funds.

Sometimes recipients of structured settlements just want to have all their money today and don’t want to have their asset in the hands of the insurance company.

In some cases, a loan can be considered as an alternative to selling your structured settlement annuity. However, this is often an inferior option to selling your structured settlement annuity because the interest rate on the loan may be high, and you must be disciplined to apply your structured settlement annuity payments to repay your loan. If you don’t, you could end up with outstanding debt plus interest and no more payments coming in to pay the loan off.

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Can I Sell my Structured Settlement?

Under the right circumstances, you can sell your structured settlement.

In most states, you will have to work with a structured settlement company who will structure an offer for your structured settlement annuity sale. Once that is complete and you agree that the offer meets your needs, the purchaser will arrange for your structured settlement annuity sale to be approved by a state court in the state where you reside. The judge must approve your structured settlement annuity sale to make sure that it is in your best interest. For example, if you have no income aside from your structured settlement annuity payments, the judge will want to be sure that before you sell your structured settlement annuity, you have a source of income that can provide for your important needs like food, rent, and medical care if necessary.

Ultimately, a judge decides if selling your structured settlement is in your best financial interest.

In many instances, if a person wants to sell their structured settlement annuity, they already have a job, or they are retired and they do not need periodic small structured settlement annuity payments over time to pay their bills. The judge will likely approve a sale in such cases because the seller would benefit from having the money in a lump sum today, instead of waiting for payments over a longer period of time.

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How to sell my structured settlement annuity

Before you sell your structured settlement annuity you need to decide if a lump sum will better meet your financial needs than receiving small annuity payments over time.

Once you decide that you may want or need a lump sum, and you figure out how much money you need, you can begin the process of selling some or all of your structured settlement annuity payments.

Gather Paperwork

Gather any paperwork you have related to your structured settlement annuity. If you don’t have any paperwork, that’s ok, your structured settlement annuity buyer can help you obtain copies of any information you require.

Accept the Offer

Now that you know how many structured settlement annuity payments you need to sell in order to get the lump sum you require, you will need to notify your structured settlement annuity buyer that you have decided to accept their offer, or if you are not satisfied, you can ask for a revised quote based on selling more or less of your structured settlement annuity payments.

Buyer Gets Court Order

Based on whatever state you reside in, your structured settlement annuity buyer will now work with the state court to obtain an order from a judge reassigning the rights to those structured settlement annuity payments you decided to sell.

Get an Estimate

Contact a structured settlement annuity buyer to get an estimate of how many payments you will need to sell to get the lump sum you need. (Your structured settlement annuity buyer can help you get information about your structured settlement annuity if you are not sure how much you receive and when your annuity payments are due.)

Sign and Return the Agreement

Once you have decided to accept an offer for the sale of your structure settlement annuity, your buyer will send you an agreement and other paperwork to complete.  You will need to review these materials carefully and then sign and return them to the buyer.

Buyer Sends You Check or Wire

Once the judge approves your court order, that court order is sent to the insurance company that issued your structured settlement annuity, and they are directed to send the payments you sold to the buyer. As soon as the structured settlement issuer confirms they have received the court order, the buyer will send you your lump sum by check or wire, and your structured settlement annuity sale is complete.

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What is My Structured Settlement Worth Today?

Sell Structured Settlement Example #1:

Structured Settlement: 96 Monthly Payments of $2,000 from MetLife

Beginning: August 25, 2016
Ending: July 26, 2024
Structured Settlement Buyer:

JG Wentworth

What is it Worth:

$111,333

Sell Structured Settlement Example #2:

Structured Settlement: 416 Weekly Payments of $350 from Nationwide

Beginning: August 25, 2016
Ending: August 18, 2024
Structured Settlement Buyer:

Peachtree Financial

What is it Worth:

$81,669

Sell Structured Settlement Example #3:

Structured Settlement: 18 Annual Payments of $15,000 from Prudential Financial, Inc.

Beginning: August 25, 2016
Ending: August 25, 2033
Structured Settlement Buyer:

Stone Street Capital

What is it Worth:

$97,011

Sell Structured Settlement Example #4:

Structured Settlement: 60 Quarterly Payments of $5,000 from Protective

Beginning: August 25, 2016
Ending: May 26, 2031
Structured Settlement Buyer:

Novation Capital

What is it Worth:

$122,843

Sell Structured Settlement Example #5:

Structured Settlement: 48 Monthly Payments of $1,500 from Mass Mutual

Beginning: August 25, 2016
Ending: July 26, 2020
Structured Settlement Buyer:

Seneca One

What is it Worth:

$52,447

Sell Structured Settlement Example #6:

Structured Settlement: 624 Weekly Payments of $400 from Allstate

Beginning: August 25, 2016
Ending: August 18, 2028
Structured Settlement Buyer:

Settlement Capital

What is it Worth:

$112,749

Sell Structured Settlement Example #7:

Structured Settlement: 12 Annual Payments of $50,000 from AXA Equitable

Beginning: August 25, 2016
Ending: August 26, 2027
Structured Settlement Buyer:

Stone Street Capital

What is it Worth:

$271,031

Sell Structured Settlement Example #8:

Structured Settlement: Lumpsum Payment of $500,000 from Aviva

On: August 25, 2025
Structured Settlement Buyer:

Novation Capital

What is it Worth:

$142,131

More Structured Settlement Examples

By Payment Frequency


By Provider

Allianz - Structured Settlement Annuity Provider

PO Box 1344, Minneapolis, MN 55416

Allstate - Structured Settlement Annuity Provider

100 Motor Parkway, Suite 132, Hauppauge, NY 11788-5107

American Equity - Structured Settlement Annuity Provider

6000 Westown Parkway, West Des Moines, IA 50266

American Family - Structured Settlement Annuity Provider

6000 American Parkway, Madison, WI 53783

American General Life Insurance Company - Structured Settlement Annuity Provider

P.O. Box 1591, Houston, TX 77251-1591

American National - Structured Settlement Annuity Provider

One Moody Plaza, Galveston, TX 77550-7999

Americo Financial - Structured Settlement Annuity Provider

PO BOX 410288, Kansas City, MO 64141

Amica - Structured Settlement Annuity Provider

100 Amica Way, Lincoln, RI 02865

Aurora National Life - Structured Settlement Annuity Provider

2525 Colorado Avenue, Santa Monica, CA 90404

Auto-Owners Life - Structured Settlement Annuity Provider

6101 Anacapri Blvd, Lansing, MI 48917

Aviva - Structured Settlement Annuity Provider

7700 Mills Civic Parkway, West Des Moines, IA 50266

AXA Equitable - Structured Settlement Annuity Provider

1290 Avenue of the Americas, New York, NY 10104

Berkshire Hathaway - Structured Settlement Annuity Provider

3555 Farnam Street, Suite 1440, Omaha, NE 68131

Canada Life - Structured Settlement Annuity Provider

8515 E. Orchard Road, Greenwood Village, CO 80111

Capitol Life - Structured Settlement Annuity Provider

1605 Lbj Freeway Suite 710, Dallas, TX 75234

CIGNA - Structured Settlement Annuity Provider

900 Cottage Grove Road, Bloomfield, CT 06002

Cincinnati Life - Structured Settlement Annuity Provider

6200 South Gilmore Road, Fairfield, OH 45014-5141

CNA - Structured Settlement Annuity Provider

333 S. Wabash Avenue, Chicago, IL 60604

Columbian Mutual - Structured Settlement Annuity Provider

P.O. Box 1381, Vestal Parkway East, Binghamton, NY 13902-1381

CIGNA - Structured Settlement Annuity Provider

900 Cottage Grove Road, Bloomfield, CT 06152

Continental - Structured Settlement Annuity Provider

333 S Wabash Avenue, Chicago, IL 60604

Country Life - Structured Settlement Annuity Provider

1701 N. Towanda Ave, Bloomington, IL 61701

CUNA Mutual - Structured Settlement Annuity Provider

5910 Mineral Point Road, Madison, WI 53705

Equitable - Structured Settlement Annuity Provider

3 Triad Center, Salt Lake City, UT 84180

Equitrust - Structured Settlement Annuity Provider

227 West Monroe Street Suite 4900, Chicago, IL 60606

Erie Family Life - Structured Settlement Annuity Provider

100 Erie Insurance Place, Erie, PA 16530

Farmers - Structured Settlement Annuity Provider

3003 77th Avenue Southwest, Mercer Island, WA 98040-2837

Fidelity - Structured Settlement Annuity Provider

1211 W. 22nd Street, Suite 109, Oak Brook, IL 60523

Fireman's Fund - Structured Settlement Annuity Provider

777 San Marin Drive, Novato, CA 94998

Garden State Life - Structured Settlement Annuity Provider

One Moody Plaza, Galveston, TX 77550

Genworth - Structured Settlement Annuity Provider

6604 West Broad Street, Richmond, VA 23230

Great American - Structured Settlement Annuity Provider

301 E Fourth Street, Cincinnati, OH 45202

Hartford - Structured Settlement Annuity Provider

One Hartford Plaza, Hartford, CT 06155

Integrity - Structured Settlement Annuity Provider

400 Broadway, Cincinnati, OH 45202

John Hancock - Structured Settlement Annuity Provider

200 Bloor Street East, Toronto, Ontario M4W 1E5

Lafayette - Structured Settlement Annuity Provider

400 Broadway, Cincinnati, OH 45202

Liberty Bankers - Structured Settlement Annuity Provider

1605 LBJ Freeway, Suite 710, Dallas, TX 75234

Life Insurance Company of North America - Structured Settlement Annuity Provider

1601 Chestnut Street 2 Liberty Place, Philadelphia, PA 19192

Lincoln Financial - Structured Settlement Annuity Provider

120 Madison Street, Suite 1700, Syracuse, NY 13202-2802

Lincoln Financial - Structured Settlement Annuity Provider

120 Madison Street, Suite 1700, Syracuse, NY 13202-2802

LM Property and Casualty - Structured Settlement Annuity Provider

251 East Ohio Street Suite 500, Indianapolis, IN 46204

Mass Mutual - Structured Settlement Annuity Provider

1295 State Street, Springfield, MA 01111

MetLife - Structured Settlement Annuity Provider

13045 Tesson Ferry Road, St. Louis, MO 63128

Midland National - Structured Settlement Annuity Provider

One Midland Plaza, Sioux Falls, SD 57193-0001

Monumental Life - Structured Settlement Annuity Provider

4333 Edgewood Road N.E., Cedar Rapids, IA 52499

National Integrity - Structured Settlement Annuity Provider

14 Main Street Suite 100, Greenwich, NY 12834

Nationwide - Structured Settlement Annuity Provider

One Nationwide Plaza, Columbus, OH 43215-2220

Northbrook - Structured Settlement Annuity Provider

2775 Sanders Road, Northbrook, IL 60062

Northwestern Mutual - Structured Settlement Annuity Provider

720 East Wisconsin Avenue, Milwaukee, WI 53202

New York Life - Structured Settlement Annuity Provider

51 Madison Avenue, New York, NY 10010

Pacific Life - Structured Settlement Annuity Provider

700 Newport Center Drive, Newport Beach, CA 92660

Presidential Life - Structured Settlement Annuity Provider

12770 Merit Drive Floor 2, Dallas, TX 75251

Protective - Structured Settlement Annuity Provider

2801 Highway 280 South, Birmingham, AL 35223

Prudential Financial, Inc. - Structured Settlement Annuity Provider

213 Washington Street, Newark, NJ 07102-2992

Reassure - Structured Settlement Annuity Provider

Windsor House Telford Centre, Telford, Shropshire TF3 4NB

Reliance - Structured Settlement Annuity Provider

2001 Market Street Suite 1500, Philadelphia, PA 19103

ING (ReliaStar Life) - Structured Settlement Annuity Provider

Suite 102, 1000 Woodbury Road, Woodbury, NY 11797

RiverSource - Structured Settlement Annuity Provider

1099 Ameriprise Financial Center, Minneapolis, MN 55474

Royal Life - Structured Settlement Annuity Provider

9300 Arrow Point Boulevard, Charlotte, NC 28273

Security Mutual - Structured Settlement Annuity Provider

Court House Square P.O. Box 1625, Binghamton, NY 13902

Sentry - Structured Settlement Annuity Provider

1800 North Point Drive, Stevens Point, WI 54481

Shelter - Structured Settlement Annuity Provider

1817 West Broadway, Columbia, MO 65218

Standard Life - Structured Settlement Annuity Provider

One Moody Plaza, Galveston, TX 77550-7999

State Farm - Structured Settlement Annuity Provider

One State Farm Plaza D-2, Bloomington, IL 61710

Sun Life - Structured Settlement Annuity Provider

One Sun Life Executive Park, Wellesley Hills, MA 02481

Swiss Re Life - Structured Settlement Annuity Provider

One Commercial Plaza, Hartford, CT 06103

Symetra Life - Structured Settlement Annuity Provider

15411 N.E. 51st Street, Redmond, WA 98052

Tennessee Farmers - Structured Settlement Annuity Provider

147 Bear Creek Pike, Columbia, TN 38401

Transamerica - Structured Settlement Annuity Provider

4333 Edgewood Road N.E., Cedar Rapids, IA 52499

Travelers - Structured Settlement Annuity Provider

385 Washington Street, Saint Paul, MN 55102

Union Fidelity - Structured Settlement Annuity Provider

7101 College Boulevard Suite 1400, Overland Park, KS 66210

United of Omaha - Structured Settlement Annuity Provider

Mutual of Omaha Plaza, Omaha, NE 68175

US Life - Structured Settlement Annuity Provider

200 Liberty Street, New York, NY 10281

USAA - Structured Settlement Annuity Provider

9800 Fredericksburg Road, San Antonio, TX 78288

Variable Annuity - Structured Settlement Annuity Provider

2929 Allen Parkway, Houston, TX 77019

West Coast Life - Structured Settlement Annuity Provider

9140 West Dodge Road, Omaha, NE 68114

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What is the law related to the sale of my structured settlement annuity?

There are laws in place to protect individuals who are selling their structured settlement annuity.

In fact there is a federal transfer statute, and 47 states have a state law regulating the sale of a structured settlement annuity. The federal law is called the The Federal Structured Settlement Protection Act (SSPA) of 2002, and each of the 47 states have their own statute which is listed below.

The sale of almost every structured settlement annuity in the United States must be approved by a state court. The state court not only makes the transaction permanent and secure for the buyer, it also protects the seller. As part of the court order transferring the rights to the future payments, the buyer must, per the court order, pay the seller the agreed upon purchase amount.

To make sure that the seller of structured settlement annuity payments is not making a mistake by trading future payments for a lump sum today, the judge that reviews each transaction must consider whether such a transaction is in the best interest of the seller. The seller must provide the judge with the reasons for the sale of their structured settlement annuity, and only if the judge confirms this is in the best interest of the seller will he or she approve the court order.

Federal & State Laws

Alabama

Enacted: April 27, 2006 Effective: August 01, 2006

Permits the sale or assignment of Alabama structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Alaska

Enacted: May 14, 2003 Effective: August 12, 2003

Permits the sale or assignment of Alaska structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Arizona

Enacted: May 20, 2002 Effective: August 22, 2002

Permits the sale or assignment of Arizona structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Arkansas

Enacted: April 13, 2005 Effective: August 12, 2005

Permits the sale or assignment of Arkansas structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

California

No direct or indirect transfer of structured settlement payment rights by a payee to which this article applies shall be effective, and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to a transferee, unless all of the provisions of this section are satisfied.

Colorado

Enacted: April 20, 2004 Effective: July 01, 2004

Permits the sale or assignment of Colorado structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Connecticut

Enacted: June 18, 2003 Effective: October 01, 2003

Permits the sale or assignment of Connecticut structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Delaware

Enacted: December 25, 1999 Effective: June 27, 2000

Permits the sale or assignment of Delaware structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Florida

Enacted: June 13, 2001 Effective: October 01, 2001

Permits the sale or assignment of Florida structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Georgia

Enacted: June 04, 2003 Effective: July 01, 2003

Permits the sale or assignment of Georgia structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Hawaii

Enacted: May 26, 2006 Effective: May 26, 2006

Permits the sale or assignment of Hawaii structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Idaho

Enacted: March 26, 2001 Effective: July 01, 2001

Permits the sale or assignment of Idaho structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Illinois

Enacted: August 11, 2003 Effective: January 01, 2004

Permits the sale or assignment of Illinois structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Indiana

Enacted: May 10, 2001 Effective: July 01, 2005

Permits the sale or assignment of Indiana structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Iowa

Enacted: May 10, 2001 Effective: July 01, 2001

Permits the sale or assignment of Indiana structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Kansas

Enacted: July 01, 2005 Effective: July 01, 2005

Permits the sale or assignment of Kansas structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Kentucky

Enacted: April 07, 1998 Effective: July 15, 1998

Permits the sale or assignment of Kentucky structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Louisiana

Enacted: June 27, 2003 Effective: August 15, 2003

Permits the sale or assignment of Louisiana structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Maine

Enacted: June 27, 2003 Effective: August 15, 2003

Permits the sale or assignment of Maine structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Maryland

Enacted: May 11, 2000 Effective: October 01, 2000

Permits the sale or assignment of Maryland structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Massachusetts

Enacted: January 12, 2001 Effective: April 12, 2001

Permits the sale or assignment of Massachusetts structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Michigan

Enacted: July 18, 2006 Effective: September 01, 2006

Permits the sale or assignment of Michigan structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Minnesota

Enacted: May 25, 1999 Effective: July 01, 1999

Permits the sale or assignment of Minnesota structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Mississippi

Enacted: April 02, 2002 Effective: July 01, 2002

Permits the sale or assignment of Mississippi structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Missouri

Enacted: July 13, 1999 Effective: August 28, 1999

Permits the sale or assignment of Missouri structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Montana

Enacted: April 21, 2005 Effective: October 01, 2005

Permits the sale or assignment of Montana structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Nebraska

Enacted: April 04, 2001 Effective: July 01, 2001

Permits the sale or assignment of Nebraska structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Nevada

Enacted: May 20, 2003 Effective: October 01, 2003

Permits the sale or assignment of Nevada structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

New Hampshire

This state does not yet have its own structured settlement transfer law enacted. People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.

New Jersey

Enacted: July 02, 2001 Effective: January 01, 2002

Permits the sale or assignment of New Jersey structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

New Mexico

Enacted: July 01, 2005 Effective: July 01, 2005

Permits the sale or assignment of New Mexico structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

New York

Enacted: September 17, 2002 Effective: July 01, 2002

Permits the sale or assignment of New York structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections. Amended 9/21/2004.

North Carolina

Enacted: August 04, 1999 Effective: October 01, 1999

Permits the sale or assignment of North Carolina structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

North Dakota

This state does not yet have its own structured settlement transfer law enacted. People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.

Ohio

Enacted: July 27, 2000 Effective: September 27, 2000

Permits the sale or assignment of Ohio structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Oklahoma

Enacted: April 10, 2001 Effective: November 01, 2001

Permits the sale or assignment of Oklahoma structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Oregon

Enacted: January 01, 2006 Effective: January 01, 2006

Permits the sale or assignment of Oregon structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Pennsylvania

Enacted: February 11, 2000 Effective: April 11, 2000

Permits the sale or assignment of Pennsylvania structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Rhode Island

Enacted: July 13, 2001 Effective: July 13, 2001

Permits the sale or assignment of Rhode Island structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

South Carolina

Enacted: May 14, 2002 Effective: June 14, 2002

Permits the sale or assignment of South Carolina structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

South Dakota

2003

No direct or indirect transfer of structured settlement payment rights is effective and no structured settlement obligor or annuity issuer is required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on the following express findings by such court or responsible administrative authority:

  1. The transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;
  2. The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; and
  3. The transfer does not contravene any applicable statute or the order of any court or other government authority.

Tennessee

Enacted: May 23, 2000 Effective: January 01, 2001

Permits the sale or assignment of Tennessee structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Texas

Enacted: June 20, 2003 Effective: September 01, 2003

Permits the sale or assignment of Texas structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Utah

Enacted: March 15, 2002 Effective: May 06, 2002

Permits the sale or assignment of Utah structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Vermont

This state does not yet have its own structured settlement transfer law enacted. People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.

Virginia

Enacted: March 23, 2001 Effective: July 01, 2001

Permits the sale or assignment of Virginia structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Washington

Enacted: May 07, 2001 Effective: July 22, 2001

Permits the sale or assignment of Washington structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Washington, D.C.

The District does not yet have its own structured settlement transfer law enacted. People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.

West Virginia

Enacted: April 17, 1999 Effective: July 01, 1999

Permits the sale or assignment of West Virginia structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.

Wisconsin

This state does not yet have its own structured settlement transfer law enacted. People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.

Wyoming

Enacted: March 15, 2006 Effective: July 01, 2006

Permits the sale or assignment of Wyoming structured settlement payment rights, subject to a court’s review and approval based on showing that the proposed transfer is in the consumer’s "best interests," taking into account the welfare of the consumer’s dependents (if any). Requires certain disclosures and other consumer protections.


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How do I sell my Annuity?

Selling an annuity is relatively common and painless.

Unlike selling your structured settlement annuity, if you want to sell your annuity, it does not require a court order. You simply sign a contract, record a change of ownership with the insurance company that issued the annuity, and once the ownership change is complete you receive your lump sum payment.

The process begins with a simple discussion with an annuity purchaser (these are the same folks who will also buy structured settlement annuities). You provide them with information about your annuity, the payments you receive and when they are due, and they give you a quote to buy some or all of your future payments. Of course, you decide how many payments you want to sell and which ones you want to keep. This allows you to get the lump sum you need today and continue to receive payments over time as well. Of course, you can always sell all of your annuity payments to get the largest lump sum possible.

The steps to sell your annuity are as follows:

Gather Paperwork

Gather any paperwork related to your annuity, or ask the buyer to help you obtain the information. Having everything on-hand will make the process easier.


Get a Quote

Get a quote from an annuity purchaser to see how much you can expect to receive as a lump sum.


Decide What to Sell

Make a decision about which annuity payments you want to sell and how much of a lump sum you want to receive.


Get a Purchase Agreement

Request a purchase agreement to sell your annuity.


Sign and Return the Agreement

Sign and return your paperwork to the purchaser.


Buyer Sends You Check or Wire

When the insurance company confirms the ownership of your annuity has been changed, you will receive a check or wire transfer for your full lump sum immediately.

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Frequently Asked Questions

Money today is always better than money tomorrow right? That’s correct as long as the money you get today is invested and allowed to grow. For example, if you invest $1,000 at 5% interest rate and compound it for 10 years, you would have $1,628. But, if you have a structured settlement annuity that pays you $1,000 ten years from now, you will receive only $1,000 in 10 years. So having the $1,000 today is more valuable than having $1,000 in the future.

Inflation is the increase in the value of materials, goods, and services without the corresponding increase in the value of the currency. If you purchased an annuity in 2003 that guaranteed you $1,500 per month for life, it might cover your rent and utilities, and maybe some left over for groceries. Now, fast forward 10 years and maybe that guaranteed payment no longer covers your groceries and not all your utilities. That is inflation.

Let’s say you have 10 years of payments of $833 per month. The total amount of all the payments would be about $100,000 over the ten-year period. You can only expect to get somewhere between $55,000 - $70,000 in cash for your structured settlement annuity if you sell it today, but this value assumes your structured settlement annuity payments start right away. If the structured settlement annuity isn’t set to start making payments for a few years, the value decreases to around $30,000-$50,000. Obviously, the value of the annuity depends heavily on the timeliness of the cash payments.

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When Selling an Annuity, you need to decide whether or not to Surrender it. Here are some things to consider:

Keep in mind that depending on the tax status of your annuity funds, you may be penalized by the Federal Government far more than the insurance carrier. In the case of an IRA, you do not have access to those funds until the age of 59.5, and at that time you still have to pay taxes. If you try to access that money prior to the age of 59.5, then Uncle Sam's punishment will be much greater.

Alarm waking up woman

At the time you purchased this product you had different goals and objectives. Now that some time has passed you have come to the realization that you need this portion of your total asset to create a different path or strengthen an income or legacy goal you now have. One of the biggest draws to annuity sales these days are the riders. The riders have become more and more enticing over the past 10 years and are providing people with stronger, clearer, and guaranteed benefits.

Three generations of women

You can always get out of your annuity and structured settlement and why not? It is your money after all, and if you are an adult, you shouldn’t require an insurance home office or judge to determine when and how you get your money.

Boy with a Super Soaker

Things happen daily and tragedy never strikes the proper people or places. This is why it's called a tragedy in the first place. Surrendering a policy is always an option, and when someone needs some instant cash this is easily the best & safest way to obtain it. It is not a loan, and you are not placing your home, car, etc. on the line in order to obtain the cash you need now.

Endless array of balls

Every time I hear this phrase it brings a smile to my face and a disbelief of the people who are still fooled by this premise. If you have any type of sales or marketing background, you will be fully aware that they truly DO NOT make them like they used to for the simplest reason ever. They can’t sell you something again and again and again if they make it too good or solid the first time. I hear this most often when older people are referring to cars, and we all know what the auto manufacturing industry has been through recently. We also know the beast that is the technology and cell phone industry and how often new models are released. The majority of us drink the kool-aid and continue to buy, buy, buy. Some annuity policies today offer upwards of a 50% Bonus and a guaranteed annual roll up rate of 10% or higher. The policy you have may not have had all the bells and whistles today's policy has, and it might be the perfect time to look at some other options with the surrender value you currently have.

Old car

The majority of the companies that are purchasing annuities and settlements from companies often bear the brunt of these items. They do it based on the long term earnings and potential. Considering this is always an option, I definitely suggest looking into what your annuity or structured settlement is worth.

Woman with hands over mouth

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Can I Sell my Pension?

The short answer is YES, you can sell your Pension today and receive a lump sum payment in return for turning over your future payments to somebody else.

You are able to sell your pension and receive a cash settlement up front, but that does not mean you must sell your entire pension. If you only want to sell a portion of it, say $50,000 that is possible as well. You are able to retain some pension payments as well as sell a portion off for a lump sum cash amount today.

There is a minimal list of requirements that must be met in order to sell your pension.

The payment you want to sell is not Social Security
The payment you sell is not VA Compensation
You must currently be receiving pension payments
You must be willing to sell a minimum of $400 monthly or $4,800 annually of your pension payment

If you are interested in selling some or all of your pension and you meet these 4 minimum requirements, then please give us a call

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Lump Sum For My Lottery Winnings

You just won the $100 million dollar jackpot and now you have to decide whether to take the Cash Option or the Annual Payout Option.

For some reason, everybody jumps on the immediate Cash Option automatically without truly thinking about everything.

Having just won the $100 million jackpot, there are obviously emotions running on very high and it is possible you are not thinking clearly. Going with the cash option means you will likely receive half of the advertised amount, which would be $50 million from which taxes will then be taken from, leaving you with around $30 million.

The Annuity Option is typically the less popular way to go.

The Annuity Option will pay a specific amount of money each year for a set number of years. Our $100 million dollar jackpot would pay $4 million per year for 25 years and after taxes that works out to about $2.7 million per year.


 

The Annuity Option pays out twice as much as the Cash Option, $67,250,000 versus the $33 million for the Cash Option.

The difference in the payout will equal a guaranteed annualized return of 8.6% return. A guaranteed 8.6% return is a very good return rate for a period of 25 years, and why winners constantly choose the cash option is a little perplexing.

It’s an understood concept that money today even if it’s less, is better than money tomorrow. But using this example shows that you better be able to generate an 8.6% return for 25 years or the better bet is the annuity.

The best concept might be to not settle for the small one time payout.

Instead take the annuity and then in a few years time when your lifestyle and emotions have settled you may decide to sell the annuity at that point. If you take the annuity on day one, you will still have the ability to sell the annuity for a cash lump sum at a future date. You can also sell a portion of annuity if you wish.

The main point to drive home is that the annuity option should not be overlooked. At the very least it will buy you some time for things to settle down and let you decide what to do with the money. The payout is bigger and you can always sell the annuity for a lump cash sum in the future.

SellMyAnnuity.net can assist you with all your annuity sales, structured settlement annuities, and lottery winnings. Please give us a call to speak with one of our friendly agents.

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Can I Get an Advance On My Existing Lawsuit?

Millions of people in the United States are involved in personal injury lawsuits every year.

Sometimes these lawsuits can take months and even years to reach a conclusion, even though the impact on individual’s lives can be felt immediately. For example, if you are injured in an accident, you may be unable to work, but you will not have received any lump sum or structured settlement compensation for your injury until your claim is resolved.

Pre-settlement lawsuit funding allows individuals who are in financial need to obtain a lump sum advance against the proceeds from their lawsuit before it is completed. By providing for these essential needs with a cash advance against your lawsuit, your attorneys can have more time available to obtain the best possible settlement for you. This can often make all the difference in the world in terms of reaching the best possible outcome.

Not everyone is a candidate for an advance against their pending lawsuit

To determine if this option is available to you, you will need to call one of our representatives, and discuss the specific details of your pending lawsuit, possibly provide paperwork related to your claim, and allow us to determine if your lawsuit merits a cash advance. Obviously, we have to be comfortable that you will likely prevail in your lawsuit before we can advance money against that claim.

Remember, we do not provide you with legal advice and we are not attorneys.

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Sell My Annuity - About Us

Operators are standing by

Sell My Annuity LLC exists to help the owner of an annuity or structured settlement annuity to determine if a lump sum of cash today is better for their needs than small period structured settlement or annuity payments made over time.

Sell My Annuity LLC will not only help determine if you should sell your structured settlement or annuity, we can also work with you to determine how many payments you want to sell, how much money you want or need, and of course to make sure you get as much money as possible, as fast as possible, for whatever payments you sell.

As you will see from our website, we are committed to providing more information about structured settlement annuity sales than any other company in the industry. With real life examples of completed transactions and thousands of quotes for you to compare, Sell My Annuity LLC is the best structured settlement annuity resource available!

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