Installment refund annuity

Installment refund annuity,

Definition of Installment refund annuity:

  1. An annuity that pays a benefit until the equivalent of the price paid for the annuity has been paid out. These benefit payments continue regardless of whether the person covered by the annuity remains alive.

Meaning of Installment refund annuity & Installment refund annuity Definition