Have questions about exchanging your annuity for a lump sum of cash? View the answers to some of our most frequently asked questions below.
Many annuities have two phases.
The Accumulation Phase: During the accumulation phase, payments are made towards various investments that are meant to increase the overall value of the annuity.
The Payout Phase: During the payout phase, you begin to receive scheduled payments based on the amount of money that has accumulated.
Most people can the true present value. If your current payment schedule isn’t fitting your financial needs or you’d like to have full access to your money for a large investment, contact us to see if we can get you the lump sum you want.
The answer depends on how the annuity was originally funded. If the annuity was purchased with after-tax dollars (not pre-tax employer or employee contributions), give us a call to find out if we can give you the money you need.
No! You can choose to exchange a period of your payments (exchange 5 years worth of a 10-year plan), exchange a portion of your payments (exchange $200 of each monthly $1,000 payment), or exchange all of your payments. How much of your annuity payment stream you should exchange depends completely on your needs and what is in your best interest. Give Rising Capital a call and we can explain your options and help you determine your next steps.
Depending on the provisions and riders of the annuity you own, you may be able to complete your sale and receive a lump sum from us in less than two weeks.
No Surrender Clauses and Surrender Fees are provisions contained within some annuities that limit your ability to alter the schedule under which you receive annuity payments. Even if your annuity has these provisions, please contact us if you are trying to exchange your future payments for a lump sum today. While the policy’s issuer may not be able to provide you with a lump sum, it’s possible we can.
The amount of the lump sum you’ll receive in exchange for your annuity payments depends on three main factors :
1. The total amount of the payments you wish to exchange. (The total dollar amount you wish to exchange or the number of payments you wish to exchange.)
2. When these payments are scheduled to be paid out. (This can be as soon as a month away or as far as years away.)
3. The structure of the payout schedule. ( This can be via a monthly check, lump sums paid over a period of time, or a combination of the two.)
To obtain the present value of your annuity, you can call Rising Capital at (866) 444-5061 to speak with an account executive or fill out our online quote form here.
Have additional questions related to exchanging your annuity? We can help. Give us a call at (866) 444-5061 to speak to an account executive or fill out our online inquiry form here.