We’ve been watching some of the comments on social media about Lucky for Life®, and there seems to be confusion about the length of time involved in the pay-out of the game’s top prizes.
Some of the confusion likely came about after our first big winner in the game chose the lump-sum payout option for his prize, which certainly was his prerogative. Let’s take a closer look at the larger prizes in Lucky for Life and how they work.
There are 10 prize levels in the Lucky for Life game, ranging from $3 up to $1,000 a day for life. The top two prize levels in the game are what get the most attention, because they’re for life, meaning that they last as long as you do.
You win the game’s top prize of $1,000 a day for life by matching all six winning numbers in one of its drawings. The game’s second prize level of $25,000 a year for life comes from matching the first five numbers but missing the Lucky Ball.
So, what does “for life” mean? It really does mean for life, but there are some qualifiers to that answer. The MINIMUM payment period for the game’s top two prize levels is 20 years. So, if you were to win one of those prizes at 55 but die at 70, you (and your estate) would still receive 20 years’ worth of payments. But let’s say you win the game’s top prize when you’re 35, you choose the annuity option and you live to be 85. In that instance, the payments would continue that entire time, for 50 years.
There is a lump-sum option for the top two prizes, should you want cash up front. The lump-sum option for the top prize is $5.75 million while the lump-sum option for the second prize is $390,000.
In March, Roy King of Sioux City won the game’s second prize of $25,000 a year for life. He chose to receive his prize as the lump-sum option, which may have blurred the lines a bit for some folks about the payout periods in the game.
We hope this explanation helps!