A Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
The estimated, annuitized value of a Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot is the amount that the jackpot is worth when paid to a winner in annual installments. The ANNUITY payment option pays the jackpot prize in annual installments. If the ANNUITY payment option is selected, the Megabucks Plus! winner are paid in 30 annual payments, the Hot Lotto jackpot winners are paid in 25 annual installments and the Powerball winners are paid in 30 graduated annual installments. The CASH payment option pays the jackpot prize in a one-time-only cash payment. The CASH payment option is generally 40-50% less than the estimated, annuitized jackpot amount. If the CASH payment option is selected, the jackpot winner receives the jackpot prize money that would have been invested in order to fund the estimated, annuitized jackpot. *If there are multiple winners of a jackpot on any given drawing, the jackpot prize money will be divided equally among all the jackpot winners for tha
The estimated, annuitized value of a Megabucks Plus, Mega Millions, Hot Lotto or Powerball jackpot is the amount that the jackpot is worth when paid to a winner in annual installments. The ANNUITY payment option pays the jackpot prize in annual installments. If the ANNUITY payment option is selected, the Megabucks Plus winner are paid in 30 annual payments, the Hot Lotto jackpot winners are paid in 25 annual installments and the Powerball winners are paid in 30 graduated annual installments. The CASH payment option pays the jackpot prize in a one-time-only cash payment. The CASH payment option is generally 40-50% less than the estimated, annuitized jackpot amount. If the CASH payment option is selected, the jackpot winner receives the jackpot prize money that would have been invested in order to fund the estimated, annuitized jackpot. *If there are multiple winners of a jackpot on any given drawing, the jackpot prize money will be divided equally among all the jackpot winners for that
Related Questions
- A Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot winner may select an ANNUITY or a CASH payment option. Whats the difference?
- If a Megabucks Plus!, Mega Millions, Hot Lotto or Powerball jackpot winner selects the ANNUITY option, what happens if he or she dies?
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