Refund Annuity


Definition of "Refund annuity"

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,


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Flow-through Cost (no Load Insurance)

Net cost of insurance with no markup to cover an intermediary's profit or expenses. An intermediary, ...

Breach

Violating a law, commitment, duty, or obligation through commission or omission. The responsibilitie ...

Net Branch

A facility offered by some lenders to mortgage brokers where de jure the brokers become employees o ...

Opening Escrow

The deposit given by a buyer of property is delivered to the escrow agent, who retains it for the se ...

Bond (financial)

Corporate or government security that pays interest and obligates the corporation or government agen ...

Viatical Settlement Company

Company that buys life insurance policies from policyowners on the lives of insureds who are termina ...

Related Real Estate FAQ

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

What Is PITI And What Does It Stand For?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

What Is A Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Rent or Buy - the pros and cons Short Sale Homes Tax Breaks for the First Time Home Buyer What do Real Estate Attorneys do? 5 U.S. Cities with the Best Public Transportation

FAQ

What is a second mortgage? What do I need to know about Homeowners Insurance? What does Travel Insurance Typically Cover? What is a mortgagor? Do I need Life Insurance?