Step 2c - Determine Total Annuity Payout Amount

<%@LANGUAGE="JAVASCRIPT" CODEPAGE="65001"%> Step 2c - Determine Total Annuity Payout Amount

Annuities and MA-LTC

Reporting and Verification

Annuity Transactions

MA-LTC Annuity Requirements

Designating DHS as the PRB

Requirement Conditions

Designation Process

Designation Activity

Transfer Evaluation

Requirement Conditions

Evaluation Method

Actuarially Sound Determination

Transfer Evaluation Activity

Step 2c - Determine Total Annuity Payout Amount

The last step in determining the total annuity payout amount is to multiply the annual payment amount (sub-step a) by the life expectancy figure (sub-step b).

Stephanie is requesting MA-LTC. She is the owner and payee of an immediate annuity she purchased 13 months ago when she was 63 years of age. The cash value of annuitized funds was $82,000. Stephanie receives a $500 payment each month, which she has received for 12 months and expects to receive for life. The annual payment amount is $6,000. Use the life expectancy figure of 22.32.

Determine $133,920 to be the total payout amount of Stephanie’s annuity. ($6,000 X 22.07).

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Transfer Evaluation - Actuarially Sound Determination

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Updated December 22, 2022.
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