Selling Annuities: How It Works
To protect both the buyer and the seller, the sale of annuities is regulated by federal law as well as the law in 47 states. While the process of selling annuities is fairly straightforward, there are certain disclosures and other documentation that you or your lawyer must review. CBC’s professionals will make certain that your transaction goes as smoothly and quickly as possible.
Going Through the Process
Your first step in getting cash for annuity payments is to contact one of CBC’s annuity buyers. This professional will go over the various options that are available and offer assistance in selecting the best one for a particular situation. There is no fee for this consultation.
Once you and your customer representative have determined the appropriate option for your settlement lump sum, the required legal documents will be prepared and sent to you for your review. We also recommend that you go over them with your own attorney. Once you have read the documents and understand them thoroughly, you simply sign and return them to CBC. CBC’s lawyers will then file them with the court.
Over the next three to six weeks, the court will review the documents and set a hearing date. Once the court reviews and approves the transaction you should then receive your money within 48-72 hours, either by check or via electronic transfer, depending on your preference.
Length of Time Required
Keep in mind that this timeline is approximate; every state’s regulations governing annuity sales are different, and this will affect the length of time required to complete the transaction.
CBC Settlement Funding
CBC Settlement Funding can provide you with a lump sum cash advance for clients selling annuities. Contact us today for more information on customized cash options to fit your financial needs.