No payment can be sold.

Q:
My settlement is because of a car accident I had in 1999. My dad had underinsured motorists insurance through Safeco We made my payments to start when I turn 25 and last over the majority of the rest of my life. It states clearly in the contract that no payment can be sold or altered. Any advice? Valerie

A:
Hello Valerie.

If your Annuity is from a personal injury lawsuit then it is standard language and you can sell the payments.

The non assignable language that you are talking about is standard language based upon federal settlement laws. There is additional language that does allow you to sell the payments and it requires a court order before you can be funded.

Now you can sell any portion of your Annuity that you would like and due to the discounting and fees associated with each deal I would suggest you only get the amount that you need instead of selling everything.

Share and Enjoy: