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Non-Cattle Specific Topics
Every Thing Else Board
Mega Millions upto $810 million
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<blockquote data-quote="sstterry" data-source="post: 1758062" data-attributes="member: 28912"><p>No, it is guaranteed for the life of the annuity. It would go to your beneficiaries or most commonly, your designees under the Annuity Contract. I have dealt with these type of annuities many times over the years. Normally in my work, they are lifetime annuities but are guaranteed for a set number of years (normally 20).</p><p></p><p>Once you get past the big numbers, it just a standard annuity contract. But note, they are not normally paid out in equal installments. They start low and increase over the years to protect the winner against inflation ect. You are almost always better off taking the lump sum if you are not a spendthift.</p></blockquote><p></p>
[QUOTE="sstterry, post: 1758062, member: 28912"] No, it is guaranteed for the life of the annuity. It would go to your beneficiaries or most commonly, your designees under the Annuity Contract. I have dealt with these type of annuities many times over the years. Normally in my work, they are lifetime annuities but are guaranteed for a set number of years (normally 20). Once you get past the big numbers, it just a standard annuity contract. But note, they are not normally paid out in equal installments. They start low and increase over the years to protect the winner against inflation ect. You are almost always better off taking the lump sum if you are not a spendthift. [/QUOTE]
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Mega Millions upto $810 million
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