Quote:
Originally Posted by Eg_cruz
I like to see that ……I know NY Life and five yrs ago they were not paying 7% to the annuitant
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Apparently you don’t know them that well. This is a lifetime annuity with a ten year guarantee, so if I die within ten years, they will only have to pay what would have been paid up to ten years, but I’ll break even at 15.5 years and get all my money back. I’m 77 now, so hopefully I’ll get past that point.(My mother died at 94 and my dad at 101). Fixed payment is actually 7.98% payout per year. It is only 4 years old.