Refund Annuity


Definition of "Refund annuity"

Kim Kenton
Kim Kenton Waterman Real Estate

Form of annuity returning premiums plus interest to a beneficiary if the annuitant dies during the accumulation period. A refund annuity costs more than a pure annuity. If the annuitant dies during the liquidation period, benefits paid to any beneficiary depend on whether the refund annuity is in the form of a life annuity certain, INSTALLMENT REFUND ANNUITY, or CASH REFUND ANNUITY,

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Popular Real Estate Terms

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 contr ...

Split Life Insurance

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Liquidation Period

Time frame during which an annuitant receives income payments from the insurance company, usually on a monthly basis. The obligations of the company t ...

Installment Refund Annuity

Annuity contract. If the annuitant dies before receiving income at least equal to the premiums paid, a beneficiary receives the difference in installm ...

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Pure Annuity

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