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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.

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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