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 ?
You know how Steam has a handy refund feature that lets you refund games that are less than two weeks old which you haven't played for more than two hours?
Since it does not have a refund feature, customers have to pay only the amount to be used.
This is multiplied by the lesser of the unadjusted investment in the contract ($100,000) or the guaranteed return ($132,000) to determine the value of the refund feature ($9,000).
Further, if it is permanent life insurance, this solution has a partial refund feature in the form of cash values.
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.
One solution would be to have a cash refund feature on the annuity, Statman suggests.
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.
The Contracts are available in several different forms, including a straight life annuity, a life annuity with a guarantee period, and a life annuity with various types of refund features.
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 providing these basic options, variations of each are also available, including cash refund features.