Selling your Annuity: what to know.

If your financial needs change, you can sell your annuity for cash. It can be sold in portions or totally, receiving all future periodic payments at the same time.
Before deciding what to do, discuss your options with a trusted, licensed financial advisor, in fact, if the annuity is in the accumulation phase, the firm may allow small, penality-free withdrawals. Also remember that the sale will have tax implications, so it's better to talk to a tax-consultant too. 

So, what are my annuity sale options?

Sell a Period of Payments

• The buyout of a period of payments involves selling all payments during an agreed-upon amount of time. Once the period in which you’ve decided to sell your payments has passed, you will continue receiving your annuity payments as you were before the transaction.

• You can also select to sell a part of each payment that you receive, which is sometimes referred to as a partial buyout.
  In the case of a partial buyout, the buyer will take the designated amount from your payments each time you are scheduled to receive one, and you will continue to receive the rest.

Selling All of My Payments

• If you decide that a lump sum of cash is more valuable to you now than parceled out payments over the course of your annuity, you can choose to sell all of your future payments in a complete buyout. In this scenario, the buyer will determine the full value of your annuity and make an offer to buy all remaining payments.

Selling your annuity is a good idea if you have to face emergencies, travels or need to improve the quality of life for your family.
If yout annuity contract is not the result of a lawsuit settlement, you can sell it without the approval of a judge. 

Steps to sell your annuity:

• Research annuity buyers for best service.
• Receive a quote.
• Consult with your financial planner.
• Complete and submit required paperwork.
• Receive your money.

It's important to remember that selling your entire annuity doesn't guarantee a full reimbursement of the initial contract value, because buyers will purchase your annuity contract at a discounted rate.