Over the past 30 years, I’ve placed many annuities for personal injury clients with MetLife. The life insurance company just announced that it’s rolling out an annuity product specifically designed for property sales.
This new MetLife annuity product enables individuals to sell personal, business or other property and receive the sales proceeds in periodic payments. Sale of homes, investment properties and even law practices all qualify.
Restrictions Apply. Eligible transactions must be located in California, Florida, New Jersey or Texas. Periodic payments need to begin within one year of the property’s sale, be in equal payment amounts and be paid in regular intervals. No lump sums are permitted. Structured payment forms need to be signed and authorized prior to the property’s sale.
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MetLife’s Structured Installment Sale product provides guaranteed income for qualifying properties. Just as with non-qualified structured settlements, sales proceeds compound and are tax-deferred until withdrawn.
For questions about MetLife’s new product, please feel free to give me a call.