ANNUITY EXAMPLES 2232021 Example One Maximizing Annuity Payments

ANNUITY EXAMPLES 2/23/2021

Example One Maximizing Annuity Payments Male Applicant, Age 71 Principal = $73, 000 Determine the Maximized Payment 2/23/2021

Example Two MEC Dollar For Dollar Plans For Annuities Countable Resources • A/R has $120, 000 Total Countable Resources • $70, 000 “Other Resources” • $50, 000 Annuity • Dollar for Dollar Plan has paid out $100, 000 2/23/2021

Example Three Annuity & Transfer • April 2013, Female Applicant • Purchased a Deferred Annuity November 2005 • Electing payments to begin November 2012 • Payments of $847 began November 2012 @ 66 years of age, as selected • Principal amount $186, 000 2/23/2021

Example Four Annuity In Payment Status For MEC Dollar For Dollar Plan • 72 year old female Applicant for MEC has $150, 000 paid out by plan • Otherwise eligible August 2013 • Purchased an $80, 000 deferred annuity, July 2008 • Receiving maximized payments of $400/month that started March 2012, and refuses to name the state as beneficiary • $110, 000 total countable resources 2/23/2021

Example Five Annuity & Transfer • Male Applicant, Nassau County Otherwise eligible Feb 2013 • Purchased a $200, 000 annuity in 2005 • Payments of $1, 100/m deferred until July 2009 • Started payments February 2011 $300/Month @ 68 years of age • Applicant has an irrevocable Burial Trust with $1500 of non-burial space items included Countable resources are $13, 450 2/23/2021

Example Six Annuity & Transfer • Female applicant, Broome Co, applies and is otherwise eligible Dec. 2013 • Purchased a $110, 000 deferred annuity in April 2009 Payment a $383/m deferred until October 2010 • Annuitized October ‘ 10 at 59 years of age, Payment amount = $383/m • Countable resources @ application = $12, 600 • $12, 000 irrevocable burial fund which includes $1500 of non-burial space items