- cash refund annuity
- noun
: a refund annuity payable in cash to a beneficiary upon the annuitant's death
Useful english dictionary. 2012.
cash refund annuity
Look at other dictionaries:
Cash Refund Annuity — An annuity contract that returns funds back to a beneficiary in the event that the annuitant dies too early. A cash refund annuity has a provision which stipulates that if the annuitant passes away before the annuity payments received equal the… … Investment dictionary
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annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… … Black's law dictionary
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