Lucky For Life has a range of prizes that can climb up to $600 or more. In that aspect, this changes a little bit of paperwork and some of your time to claim the prize.
With winning a prize that is $1,000 or more, the state law (MCL 432.32) requires the Michigan Lottery has to withhold any outstanding debts that the individual has. Unfortunately, this can be up to and including the full amount of the prize you have just won.
For this situation, it will only take place if you have something like this on file with the State of Michigan. If you have any questions in regards to any debts, then you should check with the Department of Treasury at 517-636-5265.
For prizes that are won that are of $600 and below, you will have a simple option to claim this amount. Any of these cash prizes up to $600 can potentially be claimed at your local or any Michigan Lottery retailer.
However, it is also important to keep in mind that even though most Lottery retailers will usually redeem these cash prizes as a service to their customers, you need to know that these locations are not required by law to do this. As per state regulations and gaming, this is just a benefit.
Some of these gaming lottery retailers could have strict policies pertaining to the amount of cash available for their employees to have on hand for prizes. So there is a likely scenario for a store to be unable to redeem your prize and winning ticket.
If you have the Michigan Lottery app, you can save yourself some time if you are trying to find a local lottery retailer. Simply search on the app, and it will locate the closest one to you.
When it comes to claiming the prize online, especially if you purchased the ticket online, then prizes may only be claimed by the registered account holder. Prizes that are of $600 or less will automatically be added to your account balance.
Prizes that are over the $600 threshold, and up to $50,000, will be held pending in your account upon your completion of the online claim process. Prizes that exceed $50,000 have to be claimed in person at the Michigan Lottery’s central office in Lansing.
If you happen to win a prize over $50,000, you will need to contact Michigan Lottery Public Relations at (517) 373-1237 for more information. This applies if you are thinking about taking the cash-out option of the Lucky For Life jackpot.
Keep in mind too that you may only win one prize per wager. All of the prizes will be truncated into whole dollars. These prizes have to be claimed within one year of the date they are won, or they will eventually expire and be worthless. The claim process could be changed at any time without notice, so it is very important to stay on top of this if you happen to win.
As mentioned for some qualified prizes, you might have the option to select between annual payments or a one-time cash payment with a discounted rate. If your prize qualifies for this, then a formal notice of the cash payment option will be given when you file a claim.
To elect the cash payment option, you have to complete the payment election form within sixty days of filing your claim. If this election is not made within that 60-day window of the formal notice, then the prize will be paid in its annual installments. The cash payment option, once elected, is irrevocable. It also can only be exercised by the account holder and is only allowed for the entire prize amount.