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How to Get Cash for My Settlement Payments

Selling annuities, structured settlements, or other ongoing payments for cash has become more popular in recent years. Lately more individuals are looking at the possible options that are out there. Although structured settlements are attractive because they generally provide tax-free income for life, when there is no other place to retrieve cash it may be necessary to resort to the funds that are housed in the annuity.

Sometimes cashing in and annuity is the only option and one needs to sell in order to gain a source of income. When there are no other options, selling a structured settlement can produce fast cash in the form of a lump sum, which can seem very enticing for those who are:

  • In debt
  • Impoverished
  • Bankrupt
  • Unemployed

Although, individuals may look to sell their structured settlements for cash now, it is not as easy as snapping one’s fingers to make the money appear. It takes time for the money to be awarded, typically taking weeks if not months

Get Cash Now

Historically, individuals look to sell structured settlements when they need cash now and it makes sense that there is even more of an influx during an economic downturn since it is a time when cash is usually tight. That said, the individual can’t turn a structured settlement into cash simply because he/she wants a new car, a nice vacation or new convertible. In order to keep crooked companies at bay, most state laws also require that the transfer of the settlement rights are in the best interest of the individual, which means that an individual must go through many rounds of approval before receiving the coveted cash.

Multiple Cash Back Options

Those looking to sell a structured settlement annuity should know all of the facts prior to pulling the trigger and selling for some quick cash. It is important to weigh all options and know the pros and cons to the process because the process is not only cumbersome but it is not as simple as it may seem. In short, there are three main ways to sell a structured settlement annuity, which include: partially, entirely or a lump sum. Let’s dive into these different options.


If one sells a portion of annuity or structured settlement, one will continue receiving some periodic income from the remainder of the investment without losing the tax benefits. The structured settlement will continue to carry those tax benefits, and extend them to one’s beneficiaries in case one dies before collecting all payments.


Choosing to sell the entirety of one’s structured settlement for the full term of the contract means one will empty the investment at once, ending any chance of periodic income payments in the future, but one will still have a lump-sum payment to invest.

Lump Sum

Selling lump sums over time gives one the money now in large increments, but it still guarantees one will have a steady flow of income from a structured settlement for the term of the contract, while carrying the same tax benefits as before.

Final Thoughts

When deciding to sell one’s structured settlement for cash, it is important for one to realize that it is not a quick fix and can oftentimes be a long process. Not to mention, there are penalties for selling, specifically the numerous tax and fee penalties that exist for taking the cash early. Like any other major decision in life, it is necessary for an individual to do some extensive research before selling. A sale should not take place unless one has exhausted all other options!