In this type of annuity, if the annuitant dies before the balance of the annuity has been paid out in periodic disbursement, any amount remaining will be paid to a designated beneficiary in one lump sum.
An annuity contract which pays the income benefit for the life of the annuitant and in the event that the annuitant dies prior to the income received equaling the premiums paid, the beneficiary will receive the difference in a lump sum payment. In this form of annuity the insurance company guarantees to return at least the amount of the premiums to the annuitant or to his or her beneficiary.
An annuity in which you are guaranteed to receive a certain amount of money. If you die before you receive this set amount, your beneficiary will receive the remaining value.
Any type of annuity which guarantees that, should the annuitant die prior to receiving payments equal to the premiums paid to establish the annuity, the difference will be refunded to the named beneficiary in a lump sum. New York Life and its subsidiaries continues payments until the total amount paid out equals the premium paid, called "Life with Guaranteed Total Amount."
An annuity which provides that upon the death of the annuitant before payments totaling the purchase price have been made, the excess of the amount paid by the purchaser over the total annuity payments received will be paid in one sum to designated beneficiaries.
An annuity contract which provides that if when the holder dies, installments paid to him have not totaled the amount of the premium paid for the annuity, the difference will be paid to a designated beneficiary in a lump sum.
A refund annuity under which the refund is paid in a lump sum.
A form of annuity contract which provides that if at the death of the annuitant installments paid to him have not totaled the amount of the premium paid for the annuity, the difference will be paid to a designated beneficiary in a lump sum.
A type of annuity which guarantees that, should the annuitant die before receiving payments equal to the amount paid to establish the annuity, the difference will be refunded to a beneficiary in a lump sum.
If the annuitant dies before the total of annuity payments received equals the premiums paid for the annuity, a lump sum equal to the difference between the premiums and the sum of the annuity payments already made is paid to the beneficiary.