Cash Refund definition
Examples of Cash Refund in a sentence
SECOND OPTION - Life Annuity With a Cash Refund - An annuity payable during the lifetime of the Annuitant.
The Second Option (Life Annuity with a Cash Refund) is not available with the 3% Assumed Investment Return.
To the extent either party obtains a Cash Refund, a portion of which is owed to the other party, the receiving party shall deliver the Cash Refund to the other party within fifteen (15) Business Days of its receipt.
A retiring employee who elects Option 1, Straight Life Annuity with Cash Refund, shall not be required to reduce his/her pension benefit to ensure that his/her beneficiary receives the unamortized balance of his/her contributions, with interest, in the event of his/her death after retirement.
Seller and Buyer agree to notify the other in writing of any receipt of a Cash Refund within fifteen (15) business days of receipt of such Cash Refund.
This "Cash Refund" feature is available only if the total amount applied to the Option is taken as a Fixed Annuity payment.
The Second Option (Life Annuity with a Cash Refund) is not available with the 2 1/2% Assumed Investment Return.
The Second Option (Life Annuity with a Cash Refund) is not available with the 6% Assumed Investment Return.
This "Cash Refund" feature is available only if the total amount applied to the Option is taken as a Fixed Annuity payment..
DESCRIPTION OF ANNUITY OPTIONS Life Annuity with Cash Refund: We will make payments during the lifetime of the Annuitant.