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cash refund annuity

noun
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Definition of cash refund annuity

: a refund annuity payable in cash to a beneficiary upon the annuitant's death

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“Cash refund annuity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/cash%20refund%20annuity. Accessed 24 Sep. 2020.

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