refund annuity
- A type of annuity where the total amount paid out to the receiver, their estate, or designated beneficiary is guaranteed to be at least equal to the premium initially paid for the annuity
- The policyholder felt secure knowing that the refund annuity would assure a return equivalent to, or more than, her initial investment.
- With a refund annuity, investors are confident that they, their estate, or a beneficiary will receive a minimum payout equal to the premium they paid.
- To mitigate potential loss, many choose a refund annuity which guarantees a return of the paid premium.
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