Secondary market annuity

A secondary market annuity refers to a financial product where an individual or entity sells the rights to receive future periodic payments from an annuity to a third party. This process usually occurs after the original owner has already purchased the annuity. Here’s how it generally works: 1. **Original Annuity Purchase**: An individual typically buys an annuity to receive fixed payments over a specified period, which can be for their retirement or to manage long-term cash flow needs.