Purchasing a secondary market structured settlement annuity is a fairly simple procedure. It is suggested that before initiating the purchase, the buyer consult with a financial planning advisor or investment planning advisor who is highly trained and experienced specifically in the field of secondary market structured settlement annuities. This will allow the purchaser to ask any questions he or she may have prior to entering into an agreement to purchase a settlement payment plan. It will also allow the financial or investment planning advisor to provide the purchaser with an appropriate settlement that will meet the purchaser's financial needs.
Once you have spoken with a financial or investment planning advisor and have decided that a secondary market structured settlement annuity is the right choice for you, your advisor can then assist you, if you so choose, in deciding the specifics of your annuity such as: How would you like to receive your payments? How long would you like the settlement to pay? There are numerous aspects to purchasing a secondary market structured settlement annuity that you can customize to suit your particular needs. These should be discussed extensively with your financial or investment planner.
Next, your advisor will search for a secondary market structured settlement that suits your particular needs. Once one is found, that particular settlement is reserved for you. Now that you have a structured settlement plan reserved for you, it is time to provide your buyer information. It is required that you submit information that identifies you as someone who is permitted by law to make such a purchase.
Once your information has been collected and submitted, it's time to execute an assignment agreement. This agreement will outline the terms of the transaction and payment(s) that you are purchasing. This agreement is required by law. You have 24 hours to execute the assignment agreement and return to us along with a $5,000 deposit per deal. You will then be notified of the court date for your transaction and the approval of the reassignment. Shortly after the approval, your transaction will be funded and closed. The entire reassignment process can take anywhere from 30-90 days to complete. Once your settlement has been reviewed and approved by the court and the transaction has been funded, a closing binder containing all of the documents relating to your transaction will be provided to you. It is now time for you to sit back and enjoy your payment(s). That's all there is to it!
Todd Lesk is the CEO of MJ Structured Settlement Annuities, Inc., a national industry leader in re-assigning structured settlements, lottery winnings and secondary market structured settlement income annuities to individual investors, pension funds and charitable institutions. Their clients are enjoying the security of a guaranteed income stream over pre-defined periods of time while also enjoying higher rates of return from annuities which are generally guaranteed by A to triple A-rated Insurance Companies by Standard and Poor's or the State Lottery Commission.
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