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Can I Sell My Life Contingent Payments?

Life contingent structured settlement payments are designed a little differently than other structured settlement payment streams. So, if you have them and you need a lump sum of cash, it makes sense to wonder if you’re still able to sell your future payments. Here’s a quick breakdown.

Structured settlements are generally designed in three ways:

  • An individual will receive guaranteed payments for a set number of years. If that person passes away before all the payments have come in, then their beneficiary will receive the rest of the future payments.
  • An individual will receive guaranteed payments for as long as they live. This is what we mean when we refer to a life contingent structured settlement.
  • An individual will receive guaranteed payments until at least a certain date (guaranteed payments), then receive payments for the rest of their lifetime (life contingent payments).

Because life contingent structured settlement payments come in for the rest of a person’s lifetime – no matter how long or short that time is – people often ask us if they can sell these payments. The answer is that it depends. We welcome all structured settlement annuitants to give CrowFly a call to discuss their payment streams and their options. If you have life contingent payments, we’ll just need a little extra information from you. For example, we will ask you to fill out a form about your health, which an external company will then review. Don’t worry; your personal information is confidential.

After the assessment is complete and we receive the thumbs-up from the company, our team can help you transfer the rights to your structured settlement payments in exchange for cash (which is what we mean by selling). When determining a rate, we will consider the specs of your payment stream, your age, and other factors unique to your situation.

If you do sell, then the process is the same as it would be with non-life contingent structured settlements. The paperwork is the same (adding on that health check form in the beginning), and the next steps are the same. Then, after you receive your funds, we will ask you to check in from time to time, which will only take a minute.

If you have questions about selling structured settlement payments, we’re here to help. Give us a call at 833-CROWFLY today.