Because an annuity is an asset, it can be left to heirs named in a will. Some examples:
- a large, paid-up life insurance policy or annuity policy
- a retirement account
- an intellectual property agreement
- a trust fund or other inheritance
These are normally paid out in installments over time. If the payments are still in force at the time of the beneficiary’s death, they may be passed on to family members. However, while the annuity or structured payment arrangement may have been appropriate for the original beneficiary, it may not necessarily fit with your current situation or financial objectives. As a result, you may decide to sell the annuity.
As the legal owner of the annuity payments, you have the same legal rights to sell your annuity as if you were the original beneficiary. By getting an annuity payout, as opposed to structured payments over an extended period of time, you will have more flexibility, particularly if you wish to start a business or purchase a home without incurring debt or take advantage of a time-sensitive investment opportunity.
CBC Settlement Funding can provide you a cash advance for all or part of your structured settlement payments. Our professional customer representatives will make every effort to see that you receive the best offer when you’re selling annuities, insurance or lawsuit settlements, lottery jackpots or other type of structured payments, and will guide you through every step of the process.