Refund Annuity
A payout option that returns any unpaid premium to beneficiaries if the annuitant dies before the carrier has paid out the full premium. Two variants: cash refund (lump sum) and installment refund (continued payments).
A payout option that returns any unpaid premium to beneficiaries if the annuitant dies before the carrier has paid out the full premium. Two variants: cash refund (lump sum) and installment refund (continued payments).