Definition of "Refund annuity"

Paul  Hummel<br> The Hummel Team real estate agent

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Paul Hummel
The Hummel Team
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Action USA Jay Robert Realtors

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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