Get Cash for Your Annuity Payments

Get Cash For Your Annuity Payments

Contact one of our representatives today to find out more about the cash in your fixed annuities that you may not have realized is available, but which you may need to meet your financial goals.

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Annuity Glossary

Your first thoughts about selling your annuity may cause you confusion and anxiety simply because you are not familiar with the basic financial terms. To help you think clearly about the process of annuity selling, we've compiled this Annuity Glossary. Nothing below is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.

Annuitant
The individual, usually the owner of the annuity, whose life expectancy is used when determining the annuity's income payment amount.

Annuity
An annuity is a financial product sold by a financial institution that allows for tax deferral of investment income until withdrawn from the agreement. When the annuity is annuitized the holder collects payments for their lifetime or specified number of years.

Annuity Payments
The guaranteed periodic payments made over time that are automatic under the annuity.

Fixed Annuity
A fixed annuity is an insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal.

Beneficiary
A beneficiary is an individual designated to receive remaining guaranteed annuity payments in the event that the owner/annuitant dies. These investments can give you peace of mind for your family's financial future.

Closing Documents
Any documents that are required to complete the purchase of an annuity policy and purchased payments.

Individual Retirement Account (IRA)
An IRA is a tax-advantaged personal savings plan that allows an individual to set aside money for retirement. All or part of the participant's contributions may be tax deductible, depending on the type of IRA selected and the investor's personal financial circumstances. Distributions from many employer-sponsored retirement plans may be qualified to be rolled into an IRA to continue tax-deferred growth until the funds are required.

Investment
A financial vehicle, such as stocks or bonds, which are purchased with the expectation that they will increase in value over time. For example: a lump sum payment wisely invested could deliver a higher return than an annuity could over time.

Lump Sum
A lump sum is a single payment made to a person. A lump sum payment is not subject to controls or limitations, but is intended to cover all the future needs of the payee and so it must be managed responsibly.

Qualified Annuities
Qualified annuities are annuities acquired for funding an IRA, 403(b) tax-deferred annuity, or other kind of retirement arrangement. An IRA or qualified retirement plan offers tax deferral.

Roth IRA
A Roth IRA is a type of IRA where distributions can be tax exempt. Individuals are able to make nondeductible contributions to a Roth IRA if set income requirements are met. Qualified distributions from a Roth IRA are tax-free.

Structured Settlement
A structured settlement is a legal settlement paid out over time rather than in a lump sum, usually with certain tax advantages for the recipient and a savings for the payer.

At J.G. Wentworth we understand that selling an annuity is not something that you'll undertake without gathering all the important facts. After reviewing the Annuity Glossary and reading other information about annuity selling that we provide, speak with one of our experienced associates at 1-877-227-4129 or fill out the Free Quote form.