What do you do wish for when you’re granted that one wish? More wishes, of course. And that’s sort of what our win for life-type instant games are like.
When you see a Lottery commercial or visit a Lottery retailer you might see signs about winning for the rest of your life. Which seems like a pretty good deal but maybe doesn’t seem real, a little too good to be true. I swear on my life, winning for life is very real.
When it comes to Lottery tickets, there can be a lot of fine print – game rules, how to play, how to win, where to check the ticket and all sorts of information most people don’t read until they think they might have won. To get the real story, I sat down with the Ohio Lottery’s Instant Ticket Manager, Ron Fornaro.
According to Ron, when we say that you can win for life, we mean it. And win for life prizes almost always offer two ways to receive your winnings – cash or annuity.
If you win and you’d rather not wait for yearly payments, you can claim a cash prize right away. The choice is yours. Once your cash option claim is processed you’ll receive a check for half of the value of the total prize.
If you’re a more patient person and want to look forward to receiving a nice check each year, claim the annuity option. When you claim your annuity prize, you get a check every year for the rest of your life.
“Win for life games are exciting because you usually get a higher payout than some of our other instant games,” explains Ron.
With each win for life prize, you are guaranteed at least 30 years of payments until you reach the full value of your prize.
And if you live longer than 30 years after you win, and we hope you do, you could continue to receive prize payments from the Ohio Lottery every year for the rest of your life, depending on the game. If the worst happens and you die before the prize term ends, your estate will continue to receive Lottery prize payments for the reminder of the 30 years.
Cash or annuity options are available for $5, $10 and $20 win for life-type games.
Winning the Lottery is always exciting. The only thing that can beat winning just once is winning a prize that pays off every year… for the rest of your life! It’s like getting more wishes.