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"For Life" Games - Would they offer you a lump sum?

Topic closed. 5 replies. Last post 2 years ago by costanza.

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May 11, 2012
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Posted: May 19, 2012, 10:02 am - IP Logged

Just sitting here fantasizing about winning one of those Win XXX/Week For Life games and wondering... Would they offer you a lump sum instead of having to send you a check every week for the rest of your life?  If so, how much could you get up front?

    KPaul's avatar - f holeavatar.jpg
    Florida
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    May 16, 2012
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    Posted: May 19, 2012, 10:35 am - IP Logged

    Whether that's offered is going to be based on each individual game and its rules. If you had to have the cash in a lump sum, I'm sure any legitimate win could be converted to a one time payment through any of those places that advertise buying your annuity. Personally, I wouldn't do that. I'm sure they take off quite a percentage to make it lucrative for them. I'd be happy knowing I have a scheduled check coming in on a regular basis. It wouldn't allow for lavish spending, but would be nice for peace of mind.

      SergeM's avatar - alas
      Tourist class
      Belgium
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      February 27, 2012
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      Posted: May 19, 2012, 1:03 pm - IP Logged

      I am getting bored of these lump sum or not threads. Spam

      Gummy bird

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        Oklahoma
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        November 12, 2009
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        Posted: May 26, 2012, 10:34 am - IP Logged

        Welcome to the LP costanzaThumbs Up, sorry I can't answer your question I live in OK and our scratch-off games SUCK!!!!

        Win BIG everyone....White Bounce

        I Love Pink & Green 1908

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          Springfield, IL
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          May 3, 2012
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          Posted: June 19, 2012, 4:39 pm - IP Logged

          In Illinois winners of the "Cash for Life" instant scratch off games have the option of taking a lump sum.  The $500/week for life winner can take a lump sum payout of $762,000, $1000/life doubles that, $2500/life = 2.5x that amount, and $5000/life gets 5x that amount.

          Also if you want to take the "for life" option you'll get your payments quarterly, I know of a $500/life winner that gets a $6500 every 4 months.

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            Posted: June 20, 2012, 3:10 pm - IP Logged

            In Illinois winners of the "Cash for Life" instant scratch off games have the option of taking a lump sum.  The $500/week for life winner can take a lump sum payout of $762,000, $1000/life doubles that, $2500/life = 2.5x that amount, and $5000/life gets 5x that amount.

            Also if you want to take the "for life" option you'll get your payments quarterly, I know of a $500/life winner that gets a $6500 every 4 months.

            So enough to last about 30 years taking the "weekly" payments, not bad.