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Can An Annuity Be Cashed Out

Can An Annuity Be Cashed Out

Can an Annuity Be Cashed Out?

If you purchased a lifetime or term annuity and have since undergone financial changes, you can sell your annuity to a buyout agency to gain immediate access to a portion of your annuity's value. While you'll lose some of the overall value of your annuity in the process of selling, it could prove to be a beneficial transaction, depending on your situation. Don't hesitate to contact our staff from WePayMore Funding if you're thinking about selling your annuity- we pay up to 20% more than other buyout companies, so you'll end up with more money in your pocket at the end of the sale.

Should I Sell My Annuity For Immediate Cash?

Only you can decide whether selling your annuity is the best course of action. Whether or not you sell should be based on your own financial needs at the current time and should not be a transaction coerced by a buyout company. If the money from selling your annuity could pay down high-interest debt, improve your cash flow situation, or help you fund a significant life event, selling could prove to be beneficial. Speak with our team by calling WePayMore Funding and ask for professional advice as you consider the sale of your annuity. We can help you make the best decision regarding your finances.

Can an Annuity Be Cashed Out to Buy a House?

Following the sale of annuity, the money received through the transaction can be used for anything you like. There are no restrictions or limitations placed on sale money from an annuity buyout, so you can purchase a home with the money if you want- and it's possible that the IRS could grant an exemption to the penalty tax for selling. If you have questions regarding the process or would like to speak with one of our knowledgeable agents from WePayMore Funding, simply give us a call to schedule a consultation.

What if I Inherited an Annuity That I Don't Want?

Some annuities grant financial benefits to a second party at the death of the owner. If you've inherited such an annuity, you may be wondering, 'Can an annuity be cashed out?' You can certainly sell your annuity to a buyout agency, but you should know that you'll experience the highest value from the annuity by waiting and taking monthly payments over time.

In cases when the monthly payments are not large enough to meet the needs of the owner when a lump sum would be more beneficial, or when cash flow is limiting the quality of life, selling the annuity could be the better option when compared with taking monthly incremental payments.

Where Can an Annuity Be Cashed Out?

At We PayMore Funding, we buy annuities, typically paying out as much as 20% more than other buyers- that 20% could add up to hundreds or thousands of dollars, depending on the size of your annuity. Call an agent now to find out how much immediate cash your annuity is worth.

 

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Can An Annuity Be Cashed Out
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