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Questions? | Policy Manual | Training Information

a. The annual payment amount is $23,640 (12 months X $1,970/month).

b. The life expectancy figure to use is 8.43 years. Even though the contract is based on Edna’s life expectancy, Charles is the payee. For MA-LTC annuity purposes we use the life expectancy figure of the payee based on that person’s age on the date of annuitization, which for Charles was age 80.

c. The total annuity payout is $199,285.20 ($23,640 X 8.43 years).