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Annuity Distributions

by Linda R
(Warren, RI, USA)

What is a "10 year period certain, plus life?" I'm just 65 and have been advised by a friend to begin receiving monthly distributions from a small ($14,300), 401K retirement account annuity in this manner, and use the monthly payments to pay down a credit card debt.

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Annuity Distributions

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starstarstarstarstar 		10 year period plus life question/answer
by: Linda R

Thank you. Your unambiguous description is helpful and much appreciated. Thank you.
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starstarstarstar 		10 year certain plus life
by: Robert Eldridge

Great Question.

The annuity will pay you for at least 10 years. If you pass away before the 10 years, your beneficiary will receive the payouts to the 10th year.

Plus life means the annuity will pay you an income for as long as you live after the 10th year.

Example:
If you pass away on the 15th year, then all payments stop. If you live for 50 more years you will continue to receive payments.

I hope this helps....

Robert

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