Modified Cash Refund Annuity
Form of cash refund annuity used by contributory pension or employee benefit plans. When employee participants die before receiving all of their contributions in the form of retirement benefits, this type of annuity guarantees to repay the remainder of those contributions, with interest, to the beneficiaries.
Popular Insurance Terms
Type of trust used to remove assets from a surviving spouse's estate, thereby excluding such assets from federal estate tax upon the death of the surviving spouse. This type of trust allows ...
Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
Coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to Mexico with the bank's money, the bank ...
Coverage for the perils of burglary, theft, and robbery. ...
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