installment refund annuity Definition | Business Dictionaries from AllBusiness.com

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Business Definition for: installment refund annuity

installment refund annuity

annuity contract. If the annuitant dies before receiving income at least equal to the premiums paid, a beneficiary receives the difference in installments. If the annuitant lives after the income paid equals the premiums paid, the insurance company continues to make income payments to the annuitant for life.

annuity forms
annuity, installment refund
Flexible Premium Deferred Annuity (FPDA)
installment refund

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