What Happens to a Lottery Annuity When You Die?
Retire For Less With The Annuity Expert · Shawn Plummer
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Show Notes
If you win the lottery, you are faced with a massive decision: take the reduced cash lump sum, or take the full prize paid out over 30 years as an annuity. But a common fear holds people back from the 30-year payout: what happens if you pass away before all the payments are made? Does the state keep the rest of your money?
In this video, Shawn from The Annuity Expert explains exactly how the lottery uses "Period Certain" annuities. You'll learn what makes these payments irrevocable, and how naming designated beneficiaries ensures your family continues to receive those massive checks for the remainder of the 30-year term if the unthinkable happens.
💰 Need help deciding between the lump sum or the annuity? Read our Lottery guide here:
https://www.annuityexpertadvice.com/lotto-winnings/
📞 Want a free, confidential consultation on your payout options? Call us at: 770-755-1564