This time, we are discussing, "How to Find the Buyers of Annuity?" Before knowing its steps, you should know the meaning of Annuity. Annuity is the insurance policy or investment which provides you the monthly income. If you need money for your disease or any other purpose, you can sell annuity like selling any other financial product.
Following are the Three Steps for finding the buyers of Annuity :-
First of all, check annuity plan's terms and conditions. There are lots of insurance policy plan whose monthly income is received only by its beneficiary. For example, my father is getting the earning after every 3 months from the insurance policy plan but my father do not sell it to any other. So, check it first, otherwise, your agreement for selling the annuity will become illegal.
After completing the first step, you should take the second step. In second step, you should calculate the correct value of your annuity. Calculate the total value of your investment in annuity. If you have invested money in different premium. You should check your per month income. If you are getting Rs. 9000. It means, you are getting 9% on the FD of Govt. bank. It means, you annuity market value is Rs. 10,00,000. You should not take less than Rs. 10,00,000
It is important question for you. How will buyer pay you? Whether he will pay you in lumb sum or in installment. If he will pay 75% to 80% in lumb-sum, it is good. Otherwise, you should not deal with him.
There are lots of online websites which provide you different buyers who are interested to buy your annuity but you should learn their way to pay you. For this, take the appointment and talk with them more clearly.
Following are the Three Steps for finding the buyers of Annuity :-
| 1. To Check Whether Annuity is Salable or not |
First of all, check annuity plan's terms and conditions. There are lots of insurance policy plan whose monthly income is received only by its beneficiary. For example, my father is getting the earning after every 3 months from the insurance policy plan but my father do not sell it to any other. So, check it first, otherwise, your agreement for selling the annuity will become illegal.
| 2. To Calculate the Value of Annuity |
After completing the first step, you should take the second step. In second step, you should calculate the correct value of your annuity. Calculate the total value of your investment in annuity. If you have invested money in different premium. You should check your per month income. If you are getting Rs. 9000. It means, you are getting 9% on the FD of Govt. bank. It means, you annuity market value is Rs. 10,00,000. You should not take less than Rs. 10,00,000
| 3. To Know, How will Buyer Pay You |
It is important question for you. How will buyer pay you? Whether he will pay you in lumb sum or in installment. If he will pay 75% to 80% in lumb-sum, it is good. Otherwise, you should not deal with him.
There are lots of online websites which provide you different buyers who are interested to buy your annuity but you should learn their way to pay you. For this, take the appointment and talk with them more clearly.
Related : Equivalent Annuity Method
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