Refund Feature

Refund Feature

An annuity has a refund feature if the annuitant and/or his or her survivors are guaranteed to receive an amount under the annuity at least eqaul to the amount paid for the annuity.
References in periodicals archive ?
Since it does not have a refund feature, customers have to pay only the amount to be used.
This rider protects principal in a down market and offers a unique up- market refund feature.
Accordingly, this refund feature also should be disregarded in determining whether a transfer has occurred.
The policies can include a premium refund feature that guarantees premiums won't be wasted if long-term care is never needed.
com, the only tax preparation site to offer both automated and live preparation today announced that individuals will be able to get Refund Anticipation Loans and Refund Anticipation Checks in as little as 48-72 Hours through the e1040 Click `N Refund feature, found exclusively at partner tax center sites powered by e1040.
Given the numerous ways immediate annuities can be designed to include cash refund features, period-certain payments, inflation-adjusted payments, and joint life income streams, it is possible to use one or more immediate annuities to design a plan of guaranteed income that meets many financial consumer's desires.
In addition to the no-cost, refund features, the contract offers a range of other financial benefits to the government, including no-fee travelers checks, reduced costs for ATM transactions and prompt payment incentives.
In addition to providing these basic options, variations of each are also available, including cash refund features.