New Library Definition

Reply #8

CASH Only — Sun, 04 May 2003 13:47:50 GMT

AIG:Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz(cutting down on the Zs this time

Reply #7

AnnuityIsGreat — Wed, 09 Apr 2003 14:21:34 GMT

Todd REDID your definition? More like... he defined the definition since you apparently have no clue what Cash Option means.

Reply #6

CASH Only — Wed, 09 Apr 2003 12:46:42 GMT

AnnuityIsToppled:Todd re-did my definition.

Reply #5

AnnuityIsGreat — Wed, 09 Apr 2003 12:25:13 GMT

Casho,Looks like you have NO idea what cash option means by the votes you're getting. The one yes vote you received is obviously by you. Give it up! Stick to Annuity! It works everytime.

Reply #4

Todd — Sun, 06 Apr 2003 14:36:37 GMT

Cash,I think we need to update the definition: this one's not getting any responses. I'll try to put together an unbiased definition.

Reply #3

CASH Only — Fri, 04 Apr 2003 01:32:03 GMT

Todd: I didn't want to be too wordy The cash value of an annuity prize depends on interest rates, the length of (usually 20-30 years), and the type of, the annuity (usually the cash value is 50-60% of the annuity). Annuity prizes include future interest, which is why the cash option amount is always less than the advertised annuity amount. Lottery winners, when given the choice of cash or annuity, are much more likely to take the lump sum over the yearly payments.Todd: I would think you would... [ More ]

Reply #2

Todd — Thu, 03 Apr 2003 23:15:51 GMT

I'd love to add some more information to the definition explaining why the cash option is usually somewhere around half of the advertised annuity amount. (I didn't vote yet.) Do you want to take a crack at it

Reply #1

CASH Only — Thu, 03 Apr 2003 20:36:50 GMT

I meant to add Cash Option as the subject. Please forgive me since this is the first potential definition.

New Library Definition

CASH Only — Thu, 03 Apr 2003 20:11:15 GMT

CASH OPTION: Offered in many games where the top prize(s) is/are otherwise paid through an annuity. The choice is either exercised when you buy the ticket or after you win, depending on the rules of the game.