Financial Dictionary
refund annuity
- An annuity that provides fixed payments as long as the annuitant lives and that guarantees repayment of the amount paid in. If the annuitant dies before receiving the amount paid in for the annuity, the balance is paid to the beneficiary.
Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary
Main Entry:
refund annuitysee
ANNUITY
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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