What does Refund Annuity mean? Read on to discover the definition & meaning of the term Refund Annuity - to help you better understand the language used in insurance policies.
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.
We hope the you have a better understanding of the meaning of Refund Annuity.