Interested in secondary market annuities but not sure if want to buy your first one? The team at Pacific Structured Assetget that with any new item you acquire for future investments there is some due diligence you need to do. With this in mind, our group is fine to take all the time you want to review secondary market annuities, including what secondary market annuities are, how secondary market annuities are created, and what to expect in terms of process of buying secondary market annuities.
Secondary Market Annuitiesare in reality not purchase of “annuities” but are purchase of structured settlement payments from current payees and the assignment of the structured settlement payments rights for a lump sum of cash in return for getting the periodic payment in the future. Truly “secondary market annuity” is not buying an annuity but rather is buying pre-existing, already established,structured settlement payments due from an annuity. There is no transfer of the ownership of an annuity but instead the assignment of rights to structured settlement payments. In other the words, the person with existing rights to the structured settlement payments exchanges the right to collection those payments for a payment of a lump sum now.
The system of assigning secondary market annuities is done through a court process that is established pursuant to federal law and undertaken pursuant to specific state laws where the original payee resides. All available secondary market annuities acquired in this fashion have to be carefully underwritten and require a court to not only determine that the assignment is in the best interest of the original payee of the structured settlement payments but also must specify, in a court order, with detail who the annuity issuer is to direct the future structured settlement payments to.
After years of processing the structured settlement payment rights to 3rd parties, including banks, institutional investors, and private parties, the team at Pacific Structured Assets and its vast network have the experience and expertise to properly effectuate these assignments. For individuals concerned aboutsecondary market annuities, the rate of return on structured settlement payments is of course important but it is also critical that they work with originators they are comfortable are effectuating transfers in compliance with the law and strict underwriting procedures.
If you want get more information or to learn more about secondary market annuities or a listing of available secondary market structured settlement payments, please contact us at Pacific Structured Assets. Although we always have secondary market annuities available, our team can also work with you or your financial advisor to find the exact structured settlement payments if our current inventory does not match what you are looking for. To learn more, please visit our website atPacAssets.com. We look forward to assisting you and providing you with additional information.