Annuity Purchasing

What is an Annuity?

An annuity is a financial contract written by an insurance company that provides payments to a recipient over a predetermined period of time. Annuities can vary in length and complexity, however, Rising Capital is able to purchase various types of annuities, and can likely help you sell your annuity in exchange for a lump sum. If you have an annuity that no longer fits your financial needs, get in touch with Rising Capital to determine what we can do to help you get in control of your money - now.
Immediate Annuities Benefits begin within one year of the policy being purchased.

Deferred Annuities Payments begin at some future date.

Fixed Annuities When you purchase a fixed annuity, the insurance company invests your funds and provides you with a specific guaranteed return (i.e. you can select a lump sum or periodic payments).

Variable Annuities When you purchase a variable annuity, you generally get to decide how the money is invested, by choosing from a pre-selected list of funds. Accordingly, the returns will vary depending on the performance of the chosen investments.

Qualified Annuities Annuities that are funded with either pre-tax dollars or tax-deductible contributions.

Non-Qualified Annuities Annuities that are funded with after-tax dollars. Sometimes this type of annuity is purchased directly by claimants with money they receive when their personal injury claims settle.

Structured Settlement Annuities Annuities purchased when a claimant agrees to resolve a personal injury tort claim by receiving all or part of a settlement in the form of Periodic Payments on an agreed schedule, rather than as a lump sum. Once a structured settlement annuity is purchased, the insurance company that issues it is contractually bound to adhere to the original payment schedule. While they cannot help you access the value of your future payments, Rising Capital can.

What do you do with an annuity that no longer fits your financial needs?

Our Annuity Purchasing Process

Different annuities include different provisions or riders that may impact your ability to sell the annuity. If you own a non-qualified annuity and are staggered by the cash surrender fees your insurance company charges, contact Rising Capital to see how we can get you more money.

If you purchased the annuity yourself (without employer contributions), the process may be as simple as:

  1. Get a Free Quote from Rising Capital by calling us or completing the free quote inquiry (link above).
  2. Sign a contract, a Letter of Direction, and an Irrevocable Request to change the Payee, Beneficiary and/or Owner.
  3. Receive a lump sum from us as soon as the paperwork is processed by your insurance carrier.

Non-Qualified Annuities

Oftentimes, unlike with structured settlement annuities or lottery prizes, we can purchase a Non-Qualified Annuity without going to court. We can fund annuity transfers as quickly as two weeks after you complete Step 2 above. (sign a contract, a Letter of Direction, and an Irrevocable Request to change the Payee, Beneficiary and/or Owner).

Selling your annuity payments exchanges the future value of an inflexible fixed asset with a present cash lump sum paid in full to the annuitant at the time of approval. For immediate assistance or for more information on selling annuity payments for cash, call Rising Capital today at 866.444.5061.