A player reached out to us on Facebook with an interesting question about prize payments when a game ends. The player wondered what would happen if a winner chooses the annuity option to receive prize payments over time, but the game involved ends before the final payment has been made.
The quick answer is that the prize payments would continue just as they had always been scheduled. That’s because the annuity payments are tied to that particular prize and the money comes from ticket sales at the time the prize is won. Prizes awarded are always honored.
In fact, we’re still making annuity payments for Iowa Lottery prizes won years ago – and the games involved are no longer for sale.
And to answer another frequent question when it comes to annuity payments: If a winner should pass away before the final annuity payment for his/her prize has been made, the prize money goes into that person’s estate.
When we receive word that a winner receiving annuity payments has died, that information is documented in the winner’s file. The lottery then makes payments to those listed in the terms of the winner’s estate or as determined by a court order. The lottery doesn’t get the money back -- it will be paid out according to the plans that the winner has made.
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