Ask Terry Questions Workman comp annuity

Workman comp annuity

By Terry Savage on January 28, 2019 | Financial Planning / Retirement

Hi I have a workman comp annuity and I would like to get and one lump sum payment. I have 9 and a 1/2 years left with about $140000 is there anybody I can get to buy it out.

Terry Says

There probably is — but you don’t want to do that!  There’s a reason you were given the award — and that it was structured as an annuity.  It was to save you from blowing through the money knowing that you had an accident or injury that would require future income/assets.   Think of it the way you do Social Security — it would be nice to have it early, but you simply can’t.

If you do find a company to purchase your annuity — but if they do, it will be at a SUBSTANTIAL DISCOUNT.   It is never a good deal for the seller of the annuity.  If you send me an email to, perhaps I can give you better direction at solving your financial problem, without taking this step.

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