Company's bankruptcy abruptly ends lifetime payments

[DrQ]

For years, winning a Publishers Clearing House sweepstakes promised a life of steady, guaranteed payouts.​

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But now, that dream has abruptly ended for some winners.​

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After the 72-year-old company filed for bankruptcy, longtime jackpot winners have stopped receiving their 'lifetime' checks — leaving some scrambling to make sense of the sudden loss.​

Warning ahead of $1.7B Powerball's as bankrupt company ends payments

America's once-iconic sweepstakes company is trudging through bankruptcy court. Former winners said their once-promised checks have stopped coming.

www.dailymail.co.uk

Moral of the story: Take the money up front.

 

[PigsDad]

Moral of the story: Take the money up front.

Did Publishers Clearing House ever offer an upfront payout? I seem to recall they only offered the annuity-type payment option (but it clearly was not an insured annuity).

Kurt

 

[DrQ]

Did Publishers Clearing House ever offer an upfront payout? I seem to recall they only offered the annuity-type payment option (but it clearly was not an insured annuity).

Proll'y not, but they might have been able to sell it at the time to a group that buys annuities for a cash settlement and then properly invest it. But the Daily Snail was extrapolating this to Powerball and Mega Millions which DO offer cash payouts.