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Lottery games with "lifetime" prizes, known by several names, such as Win For Life, comprise two types of US lottery games in which the top prize is advertised as a lifetime annuity; unlike annuities with a fixed period (such as 25 years), lifetime annuities often pay (sometimes for decades) until the winner's death.
Most US lotteries offer at least one scratch game with lifetime prizes.
These games vary; some lotteries offer multiple price points for "lifetime" games, with the top prize ranging from $50 daily to $1,000,000 yearly. Play for each game varies.
Increasingly, American lotteries have introduced a cash option for winners of scratch games with such prizes (as they had begun in the 20th century with fixed annuities in almost all games, drawing or scratchcard.)
The Win for Life game (which replaced Lotto South) began in February 2006 in Georgia, Kentucky, and Virginia. Kentucky dropped out in 2011, and Georgia on February 22, 2014, leaving Virginia as its only member.
Players choose six numbers from 1 through 42; seven numbers are drawn, including the Free Ball. Top prize is $1000-per-week; there is a cash option of $1 million. The liability for the top prize is $2 million cash. Second prize is $52,000.
Initially, the Virginia Lottery offered its winners a $520,000 cash option in lieu of the lifetime annuity; however, it ended in 2007, as Georgia and Kentucky could not agree on that amount for their winners who preferred cash. In 2011, Kentucky dropped the game; simultaneously, the three lotteries began Decades of Dollars, which later added Arkansas. When Georgia ended sales of the game, the current rules went in force, including the $1 million cash option.
A similar, multi-state "lifetime" payout game began on June 13, 2014; Cash4Life began in New York and New Jersey. The top two prize tiers of $1,000-per-day and $52,000-per-year each have a cash option.
Although Virginia markets Win for Life as a Virginia-only game, it will end on September 13, 2014. Virginia will replace WFL with a new game, $1,000,000 Moneyball.