Refund annuity

Refund annuity,

Definition of Refund annuity:

  1. Annuity under which all paid premiums are returned (usually with interest) to a beneficiary in case the annuitant dies before annuity payments begin. Refund annuity premiums are generally higher than those for pure annuities.

Meaning of Refund annuity & Refund annuity Definition