The trickiest part about annuities is probably the fact that they’re so confusing and very few American consumers understand them to begin with — which is partly why so many people buy annuities and then want to get rid of them, ideally by selling annuity payments and getting cash in return.

So why exactly is it a good idea to sell your annuity payments? Take a look at the reasons below:

1. You get control over the money that’s already yours. Annuities — whether you get one through lottery payments, through a structured settlement, or by purchasing one through an independent service as a retirement plan — are frustrating because they do not allow the person who owns the annuity to control his or her own money for a while. Even if you wind up having an emergency, you can’t take that money out of an annuity account before the established date or else you’ll face some pretty steep withdrawal fees.
   

2. You can start over fresh. Maybe you want to move and purchase a new home; the average selling price for houses today is about $272,000. Opting for a mortgage is easy enough, except most lenders ask for down payments of anywhere between 5% and 20% of the sale price. Maybe you just want to go back to college; that would cost about $31,000 if you look at private schools. Maybe you just want to pay off your outstanding credit card debts. Whatever you want to do with your life, you deserve to have the ability to make that choice and to use your own money to make it happen.
   

3. Reputable companies make it easy to sell annuity payments. Sure, there are some sketchy companies advertising on TV commercials that they’ll start giving you cash for your structured settlements or annuity payments the minute you contact them — but it really isn’t that easy, and a good company won’t make you think that. Trustworthy companies can help you through the process of selling your annuity payments and they’ll give you a good idea about any extra fees you may have to pay, any paperwork you’ll have to file in court, and any setbacks along the way.

When it comes to selling your annuity payments, the best reason to do so is simply because you want to.