Selling An Annuity Quick – Quick Access To Your Cash

You need quick access to a major cash flow so you are thinking of selling an annuity quick.  There are all kinds of reasons that you may need cash quick and for many people the only means they have of obtaining that cash flow is to sell that annuity quick.  So what does that mean?

For many people unexpected expenses arise fairly quickly and they need access to their cash just as quickly.  Perhaps there is a major medical emergency that requires a quick outsource of money flow.  Perhaps a child is going to go to college and the expenses are more than you anticipated.  Perhaps you have a home fire and need a new home.  All kinds of life changing events can happen that are unexpected and you really do need that cash.

So what can you do to gain access to that cash?   For some people the solution is as simple as selling an annuity quick.  To do this you would need to find an annuity purchaser quickly.  But be aware even with the demands that are being placed on you to get the fast cash, you do not want to get careless in your research to sell your annuity quick.

So you are wondering what I mean by that last statement?  There are many annuity purchasers out there who are willing to help you.  However, you want to make sure that you are getting a fair price in what you are selling.  This requires doing research on the annuity purchaser to insure that you do get the most bang for your buck.

How can you go about this research?  Well there are some things that you should know first.  First off you should have an understanding of what an annuity is. 

An annuity is a plan that is purchased paying premium payments or a lump sum to a company that in turn will pay you payments at a later date until the time you pass away.  There can be riders purchased to have the annuity continue even after you pass away to your beneficiary.  Usually the payments to you will begin when the premium is paid in full.

It is vital before you ever consider selling that annuity to weigh the pros and cons of selling that annuity.  You already know that one of the pros is that you will have the ready cash at your fingertips.  Another pro is that you can pay off bills, buy a house, and pay off that tuition or whatever else you want the purpose the money for. 

So what about the cons?  One con would be that you will not receive those installment payments that you were planning on in your retirement years.  Another is that you would lose part of what the annuity would have paid off.  There are always penalties to everything that we think is good.

So what steps do you take to sell an annuity quick?  First off be prepared.  You will want to have some information on hand before you ever make those calls to an annuity broker.  You want to know what the current value is of your annuity.  Depending on the type of your annuity the value can go up and down with the stock markets.  So you want to know what that current value is of your annuity.

You also want to know what company holds your annuity.  Another piece of useful information is when the first premium payment was paid.  These pieces of information will be questions that the broker will ask when you talk to him.  So be prepared.

Another way to prepare is to do research on the annuity purchasers out there.  You should be able to locate them on the internet so check out their webpages.  You should be able to locate on their pages information about their company, testimonies from former clients, as well as other useful information about them.  Then go check out the Better Business Bureau and see what kind of a report that they have on the annuity purchaser. 

Do not limit yourself to calling just one of these brokers.  Get quotes from various ones.  Let those various annuity purchasers what the quotes were from the other purchasers.  It only makes sense to have some competition going so that you can benefit from the selling of your annuity quick.

For whatever reason you may be considering selling that annuity quick, it pays to take a little time to make the decision to do so.  One of my teachers said one time to wait at least three days to make a major decision.  Maybe this should be one of those wait three days times of your life.