What does cash refund annuity mean?

cash refund annuity meaning in Law Dictionary

nnuity contract for paying to a designated beneficiary the real difference for the cash paid into the annuity versus the total amount returning to the annuitant, who's got died before receiving complete payment.

cash refund annuity meaning in Business Dictionary

Annuity agreement under which, if an annuitant dies before receiving the quantity contributed by her or him under it, the balance is compensated to a designated beneficiary.

cash refund annuity meaning in Insurance Dictionary

An annuity repayment agreement that provides for refund of every principal continuing to be at the loss of a main annuitant.