Personal Situation with Fixed Period SPIA

[Bushwaffle]

Newb question here: Just recently licensed to sell annuities, been doing final expense/med supps for a couple years. My wife has a Fixed Period SPIA bought and annuitized about 11 years ago with 19ish to go.

Any creative way to do anything better with it?

 

[Charpress]

You mean like cash out of it somehow?

The only thing I can think of is to sell it to one of the companies that buy annuities and structured settlements (also annuities).

Trouble is, you take a huge hit on value and those companies are only interested in fairly big annuity payouts to make the deal worth their while.

If the income isn't needed, you could also consider using it for the premiums on a life policy. Depending on age and health, that would normally leverage the money up a good deal.

 

[Bushwaffle]

Not really cash out, so much as increase the earning potential of the money. certainly not interested in losing balance value by selling unless the value decrease percentage was small enough to be outweighed by reinvestment in a higher producing vehicle. It may not be possible, but you don't know unless you ask...

 

[CALTCAgent]

Not really cash out, so much as increase the earning potential of the money.

To know if you can increase earning potential, what is it earning now ?

The problem is you can't make any moves do with a SPIA.