Refund Annuity
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,
Popular Insurance Terms
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Record a debit (or other) agent makes for premiums collected, time period for which the policy is paid, and the week of collection or date the premium was paid. In essence, the debit agent, ...
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