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Higher Yield, Lower Cost
Secondary Market Income Streams from DCF Exchange
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Best Fixed Income Asset

High Yield Secondary Market Income Streams


The secondary market for structured settlement payments offers purchasers fixed term payment streams from name brand insurance carriers like MetLife and Berkshire Hathaway. Purchasers of these payment streams buy at a lower price and higher yield, typically one to four percent higher than newly issued payment streams by the same carriers.

Secondary market payment streams go by many names. Because they are backed by annuities issued by annuity companies, many call them "Secondary Market Annuities"  or "In-Force Annuities." But to avoid any confusion with newly issued annuity contracts, we prefer the term "DCF Income Payments" as each income stream is a series of discounted cash flow (DCF) payments.  

No matter the name, in a properly structured secondary market transaction, a new purchaser acquires the right to receive payments from some of the best insurance carriers in the world.

Why DCF Income Payments Have Higher Yield and Lower Cost


Original payees sell future payments at a discount.

The discount means a lower price and higher yield for you.

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Benefits of DCF Income Payments

In volatile markets and a low yield environment, conservative investors of all ages seek secure income and safe appreciation. DCF Income Payments offer:

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Fixed, period certain payments
No market correlation
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No volatility
Top quality credit
Payments for Any Purpose
Income Now
Income payments starting withing a few months.
Income Later
Income payments starting 3-10 years in the future.
Lump Sums
A single payment made to the buyer in the future.
Income Now:

Retirees and new settlement recipients often need income starting right away, but market based investments are a risky way to generate regular income. Selling stocks when the the market is down to pay for monthly expenses is known as the ‘sequence of returns’ risk, or ‘reverse dollar cost averaging’. 

A well thought out financial plan using DCF Income Payments effectively mitigates this risk by using fixed income to cover essential monthly expenses. 

Safe and secure fixed income takes the pressure off a portfolio of market-based investments and allows time to recover from volatile periods.  Fixed and period certain payments from DCF Exchange are suitable for investors of any age as the payout amount is not based on lifespan.  

Best of all, because these payments carry a higher yield, they simply cost less than comparable newly issued annuities.

We find that investors using DCF Income Payments typically save 10-20% to create the same level of immediate income than investors using primary market annuities.  This savings translates into more flexibility for other investments, or into purchasing more income for the same investment amount.

DCF Income Payments Offer Immediate Income
Perfect For Supplemental and Retirement Income
1% to 3% Higher Yield Than ALL OTHER Comparable Options
Income Later:

Deferred income payments start 3 to 10 years in the future and defer, accrue, and compound until they start paying out. Deferred income streams are perfect for a bucket plan, or for target-date retirement plans and known future expenditures.

For example, a 55-year-old may know that Social Security and other income at retirement age will be insufficient for expenses, and wants to augment that income starting at age 65. A ten-year deferred start income stream offers certainty and a secure outcome few other investments offer.

DCF Income Payments Offer The Highest Yield Fixed Payout Deferred Income Option Available
Deferred Fixed Payments Exceed Payouts For Index Annuities In Nearly Every Illustration
Perfect For Target Date Retirement Planning and Other Fixed Income Needs
Lump Sums:

Lump sums are often used as an alternative to CDs, for safe accumulation and for defined future capital needs such as college planning, inheritance, home purchase, or other capital events.

Current rates on single payment DCF lump sums offer yields ranging from 3% to 5% for varying lengths of term. These handily beat fixed annuities and CDs, and are used by safety conscious investors in non-qualified and IRAs portfolios. Lump sums may also be used in inheritance planning, endowments and planned giving scenarios.

Lump sums are great to fund capital repairs on a family property, college tuition payments, or other capital events.
Payments can be made payable however you specify/ direct.
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Payment Stream Lifecycle
Transfer of Structured Settlement Income Streams

A structured settlement income stream is created to compensate someone for a personal injury. The payments are funded by annuities issued by highly rated life insurance companies.

Sometimes an income stream owner sells the stream for upfront cash. Every state has laws to ensure that selling is always in the owners' "best interest." DCF buys directly from owners and from other purchasers. Because the stream’s payment schedule is not flexible, DCF can buy and sell it for a lower cost than a newly issued annuity. And, because DCF buys multiple streams, it can create custom payment schedule.

Timeline of Secondary Market Transactions 

Original Settlement

  • Plaintiff receives a settlement and opts for future payments to settle.
  • An annuity from an insurance company is acquired.
  • Insurance company makes payments to Plaintiff.

Sale of Payments

  • After some time, Plaintiff / Annuitant decides to sell future payments.
  • Plaintiff / Annuitant and factoring company enter in contract to sell.
  • State regulated and IRS compliant process requires court and Insurance Company participation to approve transaction.

DCF Acquisition

  • DCF becomes assignee of contract between factoring company and Plaintiff / Annuitant.
  • DCF Exchange engages outside counsel for transaction review.
  • After court approval, DCF acquires the payment stream
  • Insurance Carrier records updated to make payments to GoldStar Trust payment servicing lockbox.

DCF sale

  • Advisor and Purchaser select payments from DCF’s In-Stock inventory.
  • Purchaser transaction funds handled by GoldStar Trust escrow.
  • GoldStar Trust records transfer of assigned payments to Purchaser.
  • GoldStar receives payments from Insurance Company and sends payments on to Purchaser.
Frequently Asked Questions
Here Are A Few FAQs We Get A Lot
Why Do DCF Income Payments Have Higher Yield Than Fixed Annuities?

The yield on DCF Income Payments is higher simply because the seller of structured settlement payment rights is selling at a discount.

These are existing, fully funded payment obligations. A buyer becomes the assignee of an existing payment stream- a note receivable bought at a discount.

How Safe Are Structured
Settlement Income Streams?

Very safe. DCF only buys streams funded by highly rated life insurance companies, partners with an FDIC member bank to manage all payments, engages expert legal counsel to perform due diligence on all assets, and sells after confirming all details.

Buying a structured settlement income stream is like buying any other investment.

Why Would the Insurance Company Issue a Contract Yielding 6% In This Market?

Discounted cash flow is a hard concept for a lot of people, but it’s at the heart of this market. $100 in 10 years is worth $55 today at a 6% discount rate. There are 10 years of deferred, compounding accumulation, which means the purchase price today is just $55.

Using the same discount rate of 6%, a payment stream of $1000/ month for 120 months costs $90,724.32 today. Because the payments start immediately, each payment includes some portion of principal and some of interest. As principal is paid out, is no longer accruing at the discount rate, and thus the total amount of interest earned on a ten-year income stream is much lower than the total interest earned on a ten-year deferred lump sum contract.

Insurance companies are not issuing contracts that yields 6% in this marketplace. Rather, sellers are willing to sell their existing payment rights and in some cases their existing annuities at a discount that allows you to achieve a 6% yield.

In summary, investors considering period certain Single Premium Immediate Annuities (SPIA’s) or using withdrawals from Fixed Annuities, Variable Annuities, or Indexed Annuities for cash flow, will find a DCF Income Payment a higher yield alternative.

How Do DCF Income Payments Fit Into My Financial Plan?

DCF Income Payments are an excellent, high-yield alternative to other fixed income investments. In addition, they can also form a high-yield, guaranteed income source for risk-averse investors, or to fund future obligations.

Here's an example scenario: 

A couple has a wide disparity between their ages (60-year-old man, 50-year-old wife). Traditional joint life annuities will offer very low payouts for this couple.

However, DCF Income Payments can be used to produce income for any buyer, or buyers, and of any age.  In this scenario, the couple may use Immediate Income DCF Payments to produce Income Now for a period of years, then use other tools to protect their money and produce income later, thus earning a higher yield than any other safe money option.

Who is the Typical DCF Income Payment Buyer?

The typical DCF Income Payment buyer is a safe-money investor seeking an above-average yield, with very low risk and no volatility. Payment streams can be immediate income, short-term lump sum, long-term lump sum, or a mixture.


Nathaniel M. Pulsifer, the owner of, also operates a wholesale structured settlement trading firm distributing to institutions and through agents nationwide. This website is his retail outlet for DCF Income Payments where individuals can work with him directly and enjoy superior service, exclusive inventory, and best in class transaction management.

At DCF Annuities, we help investors in or near retirement understand their safe money options. Our clients implement retirement investment strategies that protect and grow assets. We’ve successfully helped thousands of retirees across the nation choose the right annuity for their needs, and avoid the pitfalls and high fees found in the wrong products.

What our clients have to say about us...

For years I have tried to wisely invest in/for our retirement. With the disastrous state of the economy in recent years, this had become a real challenge. I sat at the computer and researched how to make an investment/income stream that would be safe, reliable and not make us a burden on our children in our older years. I came upon SMAs…

Nathaniel was extremely helpful and accessible, with all my questions and concerns. He guided me every step of the way: all the while, I felt he had my back. I have done numerous deals with him, and have been very satisfied every time.

I believe I have found the answers for a major part of my future income. Nathaniel insists on an independent, 3rd party lawyer, to review all his cases, and HE pays for it. That to me is reason enough to take all my annuity business with him. Much Thanks and a job well done.

- Bob F
I enjoyed working with you. Whenever possible, I’ll try to work with you for steady streams of income. Thanks again for locating a good contract and shepherding us through.

Appreciate all your efforts!

- Lisa S
New York City
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