Are you considering selling your annuity? If so, you’ll want to get the highest payout possible. While you may think that all annuity buyers are the same, this is simply not true. Going with the first annuity buyer you come across can lead to big problems down the road and result in a lower payout than you’re entitled to. Choosing the best annuity buyer can be difficult if you don’t know the secrets of the industry. Less reputable companies use these secrets to swindle unsuspecting sellers into taking a lower payout. In this blog post, we’re going to share those hidden industry secrets so you can confidently select the best annuity buyer possible and maximize your payout.
Secret #1: The Devil is in the Details
Before approaching any annuity buyer, make sure you review your annuity paperwork and know the details. You should know exactly when your payments are made and the exact amount remaining in your annuity. When dealing with the best annuity buyers, it really doesn’t matter if you know this information cold or not; a reputable buyer such as SellYourStructuredSettlement.com will make sure you’re aware of the most pertinent details concerning your annuity before offering to purchase, ensuring you have all the information you need to make the decision that’s best for you. Additionally, if you can’t find the paperwork for your annuity, a quality annuity buyer will help you to find any and all information you need to make an informed decision. However, you’ll know right away that you aren’t dealing with the best annuity buyer if you don’t have critical information on hand and the company simply glosses over it and jumps right into how much you’ll receive as a payout. If you find yourself in this situation, it is more than likely that the annuity buyer you are dealing with will try to leverage your limited knowledge to reduce your payout, which leads into our next secret – questions, questions, questions!
Secret #2: Questions, Questions, Questions!
The next secret that unscrupulous annuity buyers don’t want you to know is that you need to ask questions, and lots of them! Specifically, you want to ask the right questions; questions that will let you know immediately whether or not you’re dealing with the best annuity buyers. The annuity buyer you’re working with should encourage you to ask questions and do anything in their power to get the answers you need. If you’re dealing with an annuity buyer who is constantly dismissing or avoiding your questions, you need to take your business elsewhere. Quality annuity buyers who have your best interests in mind will be glad to answer any and all questions you have. In fact, when dealing with the best annuity buyers, you won’t even need to know the key questions to ask because they will make sure you have all the critical information you need to make an informed decision at your fingertips. When selling your annuity payments, the ultimate goal is always to receive the maximum payout possible – so how can you tell if you’re taking a second-rate deal? When an annuity buyer presents you with an offer, the key questions you need to ask are what discount rate was used and how was the payout calculation performed. Knowing the discount rate used by the annuity buyer and how the payout was calculated will allow you to perform your own review and determine whether or not you’re getting a fair return. If you’re dealing with one of the best annuity buyers, they will take you step-by-step through this calculation as it can be confusing, especially for customers with a limited financial background. However, less reputable annuity buyers will avoid direct questions about their discount rates or refuse to answer altogether. These buyers know that if you had the information to do the calculation yourself, you’d quickly realize they’re offering you less than you deserve. If you’re dealing with an annuity buyer who won’t disclose their numbers or offers convoluted explanations of their calculations, take your annuity and run. For those interested in selling only part of their annuity payments, knowing how much of the annuity a payout represents is crucial. In some cases, customers will accept a large payout thinking they will be selling a much smaller portion of their annuity than what the annuity buyer actually buys, leaving those customers worse off than they thought in the future. Don’t let this happen to you; when an annuity buyer offers you a lump sum, make sure you double check how much of your annuity you will need to sell to receive the promised payout and the portion is something you are comfortable with.
Secret #3: Google
Searching for information online isn’t exactly a secret, but it’s incredible how few annuity sellers don’t conduct online searches for the best annuity buyers until after they’ve had a negative experience. Before selling your annuity, make sure you do a thorough Internet search on your annuity buyer, consulting reputable sources such as the Better Business Bureau. At SellYourStructuredSettlement.com, we’re happy to answer any and all questions you may have. To get the best annuity advice concerning the sale of your annuity, contact SellYourStructuredSettlement.com by calling 800-543-6513 or requesting a quote today!