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Subject:  outliving your annuity Date:  11/17/2013  4:03 PM
Author:  michaelwmccloy Number:  119543 of 127513

My mother's annuity matures on her 95th birthday, next year. She has not collected a dime from it since she initiated the policy in the 1990s. The annuity company has given her these options:take the $100,000 total value in cash (and lose 25 percent to taxes) or begin to take regular payments that are fixed at such a low amount that she would not be able to use the funds for major bills that are sure to come as her health declines.

Are there other alternatives?
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