Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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How can I sell my annuity?

Selling your annuity is easy; all you have to do is find a company that you feel comfortable with to sell your annuity to. That is right, there are companies that specialize in buying structured settlements and annuities for one lump sum and you can use them to sell your annuity.

Compare online annuity quotes with just a zip code now!

You can make the decision to receive cash for all or part of your annuity. You can also get cash against future earnings by signing over your annuity to a third party, such as a company that specializes in purchasing annuities.

Why would I sell my annuity?

Selling an annuity is sort of like selling your future, so it is important that you only sell your annuity if you really need the money. Many emergencies occur that may cause you to need to sell your annuity.

Having the option to sell it rather than surrender it may end up saving you a great deal of money. In addition, if you have an annuity that is already paying out, such as an immediate annuity, that you can’t surrender, then transferring ownership may be your only option.

When you surrender an annuity, you are faced with penalties that can add up to up to 50% of your total investment. When you sell your annuity, you can often get the full value of your initial investment, without having to pay any of the fees.

The reason that a company would be willing to purchase your annuity this way is that they are willing to wait for the investment to pay off. They benefit by keeping your initial investment in the annuity and accruing the interest for themselves.

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What do I need to sell my annuity?

In order to sell you annuity, you are going to have to be able to prove that the annuity is yours. To do this you are going to need a copy of your:

  • Annuity application
  • Actual annuity policy
  • Settlement agreement (if applicable)
  • Most recent annuity check if you are already collecting on your annuity
  • Most recent tax return if you are already collecting on your annuity
  • Picture ID

You will also have to fill out all of the paperwork associated with selling your annuity. This will include a declaration of some sort that you are selling your annuity of your own free will to the financial company that you are selling your annuity to.

You will also need to ensure that your annuity is transferable. Not all of them are. If it isn’t you won’t be able to sell your annuity.

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Who handles the sale of my annuity?

You have two options when selling your annuity. You can choose to handle the process yourself or you can hire a broker to sell it for you. If you handle it yourself, you don’t have to pay any fees other than the fees that the buyer requires.

If you don’t feel comfortable doing it yourself, you can hire a broker to find a buyer for you. The benefit of using a broker is that they can find you more options than you may be able to find yourself. A broker can also negotiate a better deal for you. The downside is that you have to pay the broker a fee for their help, so you will want to shop around for a broker before you decide which one to use.

You will also find that there are tools that help you find a financial institution, allowing you to shop around with ease. This method is sort of like a quote tool because you can get quotes from multiple companies. The thing is, you are going to have to speak to a couple of the financial intuitions as well so that they can get the complete story before you get a final quote on what their fees are as well as what your pay off will be.

Selling your annuity is a big deal and if you want to take this route then you need to ensure that you do it right. If you aren’t sure about what to do, talk to a broker and make sure you get the best offer on your annuity.

If you feel comfortable with the process, then try our free quote tool to find financial institutions that will purchase your annuity and give you the lump sum of money that you need for your emergency or special occasion. Enter your zip code to get annuity rates now!