When you buy a secondary market annuity, you are buying the rights to contractually guaranteed payments to you, and the issuing insurance company retains full ownership of the annuity.
In order for you to buy the rights to the payments, a judge has to approve this contractual change of annuity benefits. The issuing insurance company has to approve the transaction also since they are going to own the policy, and are agreeing to pay the benefits to you instead of the previous person receiving the payments.
The process to finalize the purchase of a secondary market annuity can take as little as 10 days but can also be as long as 2 months or more. It’s very important to use a company that specializes in the secondary market world because the procedure is very detailed and lengthy because it has to go through a legal process.
You also need to involve your CPA. The importance being that they need to be a part of the process before, during, and after the transaction is finalized to ensure the tax ramifications are covered properly.
Secondary market annuities go quick. When you see an offering you like, you need to make a decision quickly or it will be gone. More and more investors are learning about these higher yielding strategies, and finding out that most secondary market annuities are associated with highly rated companies.
If you think that a Secondary market annuity may be a good choice for you please contact my office today so we can get started finding the perfect offering to fit your needs and secure your future.
“Get a list of the hottest deals offering high rates of return with safety and security.”
John Bulbrook, Bulbrook Drislane – IN-FORCE ™ Secondary Market, Finance and Investments, Secondary Market, Annuities, Fixed Term Annuities, Life Insurance, Structured Settlements, Previously Owned Annuities, Pre Owned Annuities, Immediate Annuities, Factored Structured, Settlement Secondary Market Annuity, Aftermarket annuity, Inforce fixed term annuities, Inforce fixed term annuity, Inforce annuity, Deferred Variable Annuity, Inherited Annuity, Equity Annuities, Straight Life Annuity, Non Qualified Annuity, Mutual Fund Settlement, 20 Year Annuity, 10 Year Annuity, 5 Year Annuity – Click here for his Facebook,Twitter, LinkedIn, Google Plus