Annual Income – You will have time to plan how you will invest and use your money, aside from the fact that you can relax knowing that there is a passive income every year for decades.
No Pressure – Dealing with a large amount of money can be difficult, especially when others know about it. When you opt for an annuity, nobody can claim that you have spare money to help them when you do not want to.
Control – A steady inflow of money is easier to control than having your bank account multiplied by the thousands overnight. There are many big lottery winners who went bankrupt.
Larger Prizes – It is impressive to see how many people are not aware of the fact that the advertised jackpot is only possible when you opt kbc lottery helpline number for an annuity. Without the deduction, you will receive a lot more money in the end.
Cons of Annuity Payouts
Long Term – When you receive a portion of the prize once a year, there are many plans that might not be possible to put into practice, like when you take a lump sum payment. You need to be patient and make small investments.
Uncertainty – Will you live to enjoy all the possibilities that the money will bring over time? There is no way to be certain of it, and annuities cannot be rushed.
Pros & Cons of the Lump Sum or Cash Option in Lottery Prizes
Most of the lottery winners’ stories that we hear are about people who made the cash option and took a large and singular sum when they claimed the prize. There are more obvious cases in which that is a better option, such as lottery group plays when the prize is reduced a lot. However, we should understand both the pros and cons of that alternative.
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