What Does Refund Annuity Mean?

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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.

Refund Annuity

Refund Annuity

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.

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