Most Americans (65%) would much rather be paid a settlement as one lump sum rather than smaller payments over decades, according to the American International Group (AIG). This makes a lot of sense when you realize that most people in the United States (76%) live paycheck to paycheck and that 62% of us cannot afford any unplanned expenses. If you have received a structured cash settlement you may be considering selling it but how do you do that? How do you even get a quote for your annuity payments?

How to get cash for an annuity now.

1. Find out if you can sell your annuity. Not all annuities can be transferred or sold. Read through the documents you have and go to a professional if anything is not clear. The last thing you want to do is find a buyer and then find out you are not even in a position to sell the annuity.
2. Find out how much your annuity is worth. You cannot possibly get a quote for your annuity payments if you do not know how much they are worth. You should consult an account to determine what is and is not taxable. For the most part, the money is not taxable until you start to spend it.
3. Is selling the annuity really your best option? Sometimes taking out a loan is a better idea (the annuity counts as an asset when applying for a loan). You will lose money when you sell your annuity. You may want to consult an attorney or financial advisor to see what your best options are. Many people have immediate cash needs so selling the annuity makes a lot of sense.
4. Get quote for your annuity payments from multiple companies. There are a lot of companies out there who want to buy your annuity. You cannot turn on the television without being bombarded by their advertising. When getting quotes, never give out your personal information such as your social security number, bank account information, anything that can allow unauthorized access to your money. Likewise, never pay a fee for a quote. Only scammers will ask for that.
5. Go with a broker. If you are unsure how to proceed or are not comfortable negotiating with companies that buy structured settlements, find a broker to handle all of that for you. You have to pay them but the deal they get may be so much better than what you would have gotten on your own that their services pay for themselves.

There are many reasons people sell their annuities. Some want to start or expand a business. Some want to go back to school or pay for their kids? education. Others need the money for day-to-day living expenses. The reasons people sell their annuities is as varied as the people selling them. This is a big decision and only you know what your financial needs are so go with your gut when deciding what to do with your annuity.