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refund annuity

American  

noun

Insurance.

  1. an annuity providing for a lump-sum payment or installment payments to the beneficiary for the amount remaining of the purchase price at the death of the annuitant.

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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.

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