Pacific Structured Assets

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Secondary Market Annuities for individual investors · Est. 2011

Secondary Market Annuities, Explained Clearly

Also known as SMAs, these are factored structured settlement payment rights: fixed future payments purchased at a discount.

You are not buying a new annuity contract or insurance policy. You are buying assigned rights to receive specific future payments, generally transferred through a court-approved structured-settlement transfer process.

View Available SMAsSchedule a Personal Walkthrough

No pressure. Our team can walk you through the issuer, payment dates, transfer documents, and risks, at your pace.

Sample payment streamGuaranteed Payments
Insurance company
Named insurance company
Payment amount
$600 / month
Payment dates
Aug 2031 – Jul 2038
Purchase price
$41,500
Total scheduled payments
$50,400

Estimated yield

Based on purchase price and schedule

5.4%

What we review with you

  • Payment schedule
  • Court order
  • Insurance-company obligation
  • Assignment documents
  • Life-contingency terms, if any

Illustrative only. Available purchase prices, payment terms, and estimated yields vary. This is not an offer, and estimated yield is not a guaranteed return.

  • Founded 2011

    Specialized since day one

  • Court-approved transfers

    Reviewed before funding

  • Insurance-company obligors

    Named before you decide

  • Personal guidance

    A real team, no pressure

Named insurance-company obligors have included

Berkshire Hathaway · American General · New York Life · MetLife · Prudential · Genworth · John Hancock · Pacific Life · Allstate · Talcott · and other major insurance companies

The insurance company obligated to pay is named on each option before you decide. Payments depend on that company, and are not guaranteed by PSA. PSA is an independent company: we are not affiliated with, endorsed by, or connected to any insurance company named here — names appear solely to identify who is obligated to make the payments.

Track record

A long history in one narrow market

Most of the payment streams we place are originated by our sister company, Catalina Structured Funding, so the same team has underwritten each file from the court order through the payment schedule. The figures below reflect completed transactions.

4,600+
Completed transactions

Court-approved transfers, each reviewed before funding

$1.4B+
In future payments purchased

Total scheduled payments across every transfer

20+
Major insurance obligors

MetLife, Prudential, Berkshire Hathaway, and more

2011
Serving investors since

A specialized firm, one narrow field

Payment streams we have transacted

  • Structured settlement & annuity payments — guaranteed and life-contingent
  • State lottery prize payments — 17 states
  • Casino & gaming jackpot payments
  • Court-ordered corporate & government settlements

Payments on every stream are the obligation of the issuing insurance company, named on each option before you decide — they are not guaranteed by Pacific Structured Assets. See the carriers behind the payments.

Start here

What exactly am I buying?

You are buying the right to receive a specific schedule of future payments. In the marketplace, these are often called Secondary Market Annuities, or SMAs. Technically, many are factored structured settlement payment rights.

Important distinction: the underlying structured settlement may have been funded by an annuity issued by an insurance company, but the annuity contract itself does not transfer to you. Instead, you receive assigned payment rights after the required transfer documents and court-approval process are completed.

“Secondary Market Annuity” is a common industry term. PSA uses it because many investors search for and recognize the phrase. Technically, the product offered is generally a factored structured settlement payment right, not a new annuity contract or insurance policy.

01

Fixed payment dates

The amounts and dates were set in the original structured settlement. You can see the full schedule before you decide.

02

A named insurance company

The payments are usually owed by a major insurance company. You know exactly who is obligated to pay before you buy, and payments depend on that company.

03

A court-approved transfer

The payment rights are assigned to you through a court-approved structured-settlement transfer process. That process is part of what we review with you.

04

Documents reviewed before funding

The transfer documents, court approval, and insurance-company obligation are reviewed before any money changes hands.

Available now

Available Secondary Market Annuities

A sample of current guaranteed payment rights — factored structured settlement payment rights, commonly called SMAs. Each is a specific schedule from a named insurance company, with payments that do not depend on anyone's life. Browse the full inventory to view payment schedules, documents, and available pricing.

Estimated yield:
annualized return from price and schedule
Payment dates:
when payments are expected
Payment type:
guaranteed — payments don’t depend on a life

Available payment streams vary by purchase price, payment term, issuer, and estimated yield. Current options range from about $20,000 to over $280,000, so some are smaller while others require a larger purchase.

Join our email list to get new inventory — payment schedules, issuing insurance companies, and available pricing — as it posts.

View Available Income Options

Get new inventory and special offers

Enter your email and we'll send new inventory and special offers straight to your inbox — including deals where we raise the estimated yield ahead of an upcoming court hearing date. No account required, and you can unsubscribe anytime.

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The case, plainly

Why individual investors consider payment streams

A few reasons these fit some conservative, income-focused portfolios. Every option also carries real risks, covered just below.

01

Predictable scheduled payments

The amounts and dates were fixed in the original settlement. You are reviewing a defined schedule, not a projection.

02

A known issuer before you buy

You see which insurance company is obligated to make the payments before you decide anything.

03

Estimated yields that may exceed CDs

Because you buy at a discount to the total scheduled payments, estimated yields may be higher than CDs or some bonds. They are estimates, not guarantees.

04

A specific schedule, not a fund

You purchase the right to one defined payment schedule, not a share of a pooled fund with a manager in between.

05

Can be used with some self-directed IRAs

Many investors purchase payment streams inside a self-directed retirement account through a custodian that accepts alternative assets.

06

A personal walkthrough first

Our team reviews the issuer, payment dates, court order, documents, and risks with you before you decide.

Important things to understand before buying

These are long-term holdings, and payments depend on the issuing insurance company's claims-paying ability. Please read these before deciding.

  • Not a bank deposit, not FDIC-insured, and not bank-guaranteed
  • Not a new annuity contract and not an insurance policy
  • Not a registered security, and not publicly traded
  • Not covered by state guaranty associations, unless separately confirmed by applicable law
  • Limited liquidity: no public market and no daily price
  • Payments depend on the issuing insurance company's claims-paying ability
  • Subject to transaction, document, and court-order risk
  • Life-contingent payments may stop if the measuring life passes away

PSA does not provide tax, legal, investment, accounting, or financial advice, and these payment rights may not be suitable for every investor. Please review any option with your own advisors before deciding.

Read full disclosures →

A primary way investors buy

Buying through a Self-Directed IRA?

Many investors buy payment streams inside a self-directed retirement account. Your IRA owns the payment rights, the scheduled payments flow back into the IRA, and the whole transaction is handled through a custodian that accepts alternative assets.

  1. Step 1

    Choose an available payment stream

    Pick an option that fits the income, timing, and estimated yield you are looking for.

  2. Step 2

    Your custodian reviews the documents

    A self-directed IRA custodian that accepts alternative assets reviews the paperwork.

  3. Step 3

    IRA funds are wired for the purchase

    The purchase is funded from your IRA, so the account, not you personally, owns the payment rights.

  4. Step 4

    Payments flow back into your IRA

    Scheduled payments are directed back into the IRA, on the assigned schedule.

Learn About IRA PurchasesAsk About IRA Purchases

PSA does not provide tax advice. Please consult your tax advisor or IRA custodian about your own situation.

How it works

A guided process, with help at every step

You are never on your own. We help you understand each payment stream before you decide, and there is no pressure to move quickly.

Learn How It Works

  1. Review available income options

    Browse current payment streams and see estimated yield, payment dates, issuer, and purchase price.

  2. Ask questions and review the documents

    Our team can walk you through the payment schedule, court order, insurance-company obligation, assignment history and chain of title, and risks, at your pace.

  3. Reserve the option you want

    Each payment stream is unique and can generally be reserved by one buyer at a time.

  4. Complete documents and funding

    The purchase is documented and funded according to the transaction instructions.

  5. Receive scheduled payments

    Payments are made according to the assigned payment schedule, subject to the terms and risks of the payment stream.

Who you are working with

Specialized experience, explained plainly

PSA was built for investors who want a clearer way to review specialized payment streams. Our team focuses on payment schedules, court orders, issuer obligations, and transfer documents so individual investors can make more informed decisions.

Most of the payment streams we offer are originated by our sister company, Catalina Structured Funding, so the same team can explain a file from the court order through the payment schedule.

  • Founded in 2011
  • Transfers reviewed under each state's Structured Settlement Protection Act
  • Every assignment is a matter of public record, not a private handshake
  • In-house legal and document review on every file
Meet our team →Read our disclosures →

Leadership

Greg Saber

Principal

Greg co-founded PSA's affiliated originator, Catalina Structured Funding, and oversees how every payment stream is structured and presented for court approval before it reaches inventory.

Evan Chait

Senior Vice President, Operations

Evan runs day-to-day operations: documentation, regulatory compliance, due diligence, and court-filing coordination on every transaction that moves through PSA and its affiliated originator.

Common questions

Common questions from individual investors

Short, plain-English answers. For more detail, see the full FAQ and our disclosures.

What exactly am I buying?
The right to receive a specific schedule of future payments, usually owed by a major insurance company, purchased at a discount to the total scheduled payments. In the marketplace these are called Secondary Market Annuities (SMAs); technically, many are factored structured settlement payment rights. You are not buying a new annuity contract or insurance policy.
Who sends me the payments?
The insurance company that owes the payments continues to make them on the fixed schedule. Through a court-approved transfer, you are assigned the right to receive them.
Is this the same as buying an annuity?
No. You are not buying a new insurance annuity contract or policy. You are buying assigned rights to receive payments from an existing obligation, generally factored structured settlement payment rights. “Secondary Market Annuity” is a common industry search term, not a new annuity you purchase.
Why are estimated yields higher than CDs?
Because you buy the payment stream at a discount to its total scheduled payments, and that discount is the source of the estimated yield. Estimated yields are not guaranteed, and the risks differ from a bank CD.
Are the payments guaranteed?
Guaranteed payment streams do not depend on anyone's life, but they are not FDIC-insured or bank-guaranteed — they depend on the issuing insurance company continuing to pay. Life-contingent streams may stop if the original annuitant passes away.
What is a life-contingent payment stream?
One where payments continue only while the original annuitant is alive. It may offer a higher estimated yield, but payments can stop if that person passes away. We label these clearly on every option.
Can I sell later if I need cash?
These are long-term holdings with limited liquidity. There is no public market, but resale or reassignment to another buyer may be possible with our assistance, at a price that is not guaranteed and moves with prevailing interest rates.
Can I buy through a self-directed IRA?
Often, yes. Many investors purchase through a self-directed IRA custodian that accepts alternative assets. PSA does not provide tax advice, so please check with your custodian and tax advisor.
How do I see full details on a listing?
Browse our live inventory to view payment schedules, the issuing insurance company, documents, and available pricing on each option. There is no obligation to buy, and our team can answer questions before you reserve anything. You can also join our email list to get new inventory as it posts.
What documents do I get to review?
The court order, the payment schedule, the insurance-company obligation, the assignment and transfer documents, and any life-contingency terms that apply.
Should I talk to my financial or tax advisor?
Yes. PSA does not provide investment, tax, legal, or accounting advice. We encourage you to review any option with your own advisors before deciding.
See the full FAQ →Read full disclosures →

Pacific Structured Assets

Want help reviewing available SMAs?

Our team can walk you through current payment rights, explain the payment schedule and transfer documents, and help you understand the risks before you decide.

View Available SMAsSchedule a Personal Walkthrough

Prefer to talk it through? Questions before creating an account? Call our team at (800) 449-6311

No pressure. We are here to help you understand the options.