For most beneficiaries of structured settlements, there are options available to convert the annuity payments into a lump sum of cash. Many individuals that won a lawsuit accepted a structured settlement annuity as their award in the case. However, over time their lifestyle or condition has changed, where the monthly or annual payments are not enough to cover ongoing expenses and medical bills. They find themselves seeking an annuity buyer that will help them convert the remaining worth of their annuity into cash.

Originally, the courts most likely accepted the offer of an annuity payment in lieu of a lump sum of cash to benefit the claimant that won the award. As a way to ensure an ongoing source of income in the years ahead, the judge agreed to a structured settlement. Many times, the courts are eager to allow structured settlements as a way to avoid specific problems when the claimant in the case receives large amounts of money that include:

• Purchasing big-ticket items including homes and cars
• Investing in questionable ventures including businesses or purchasing junk stock
• Simply giving money away to family members, friends and others

Seeking an Annuity Buyer

Sometimes, the structured settlement annuity is simply not enough to meet monthly expenses. Although the annuity offers an income it might not be enough to provide a lifetime of financial security. Often, seeking an annuity buyer is the best option for converting a structured settlement into one large payment, or to sell off a certain portion of the annuity and have the remainder continue to provide a monthly check.

Selling a structured settlement to an annuity buyer can help to pay off medical expenses, purchase much-needed items, pay down debt, or make mortgage payments. Allowing the beneficiary to exchange settlement payments for cash can often alleviate much of the stress families experience after the court case has finally been settled.