Article provided by: WePayMore Funding LLC

How To Get Money Out Of An Annuity

Can I Exchange My Annuity For a Lump Sum of Money?

If you're wondering how to get money out of an annuity, the answer is relatively straightforward; contact 3-5 annuity buyers and compare the purchase quotes they provide through email communication or schedule a consultation with a reputable buyout company to determine the value of your annuity in a cash lump sum. While you'll experience a loss of overall value in your annuity, the good news is that you'll have access to a more substantial amount of money at one time versus waiting for smaller increments to pay out over time.

How Can I Avoid the Tax Penalty When Cashing in My Annuity?

There are several exemptions for the penalty tax you can take advantage of when thinking about selling your annuity. The easiest exemption to qualify for is waiting until you're 59 1/2 before you sell, however, if you're unable to wait and you need immediate cash from your annuity, you can speak with a knowledgeable agent from WePayMore Funding to find out if you qualify for another exemption. Schedule a no-cost consultation with us for the highest payout of any annuity buyer and give us the opportunity to answer all of your questions.

Should I Sell My Annuity to a Third Party?

You alone can answer the question of whether or not you should sell. It's easy to find out how to get money out of an annuity, but it's challenging to find a company willing to pay what your annuity is worth. You may benefit from the sale of your annuity if any of the following circumstances apply:

  • You plan on using the money to pay down high-interest debt
  • You've found a great deal on a home for sale
  • Cash flow problems are forcing you to make poor financial decisions
  • You're not concerned with taking a loss on the value of the annuity

What If I Have Buyer's Remorse After Purchasing an Annuity?

Once you've received your first annuity payment, it's too late to change your mind- the annuity will continue paying out as per the agreement until the end of the term specified. Your only recourse at this point is to find a reputable buyer who will purchase the annuity for a lump sum of money, relieving you of your contract. You'll want the most value out of your annuity with the shortest wait time- WePayMore Funding can help make the transaction one that is hassle-free and streamlined. Best of all, we guarantee the highest payout of any annuity buyer.

What Can I Do With My Annuity Payout?

There are no restrictions regarding what you can or cannot do with money obtained from selling annuity payments- the money is yours once it's been released to you. Some common reasons for selling include the purchase of a home, funding for dream vacations, college tuition, lending to family members, paying for a funeral, or improving cash flow during difficult financial times. No one will follow up to determine how you spend your annuity payout. If you're wondering how to get money out of an annuity, WePayMore Funding can provide same-day answers to your questions when you call our team.

 

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How To Get Money Out Of An Annuity
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