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LSDefine

Simple English definitions for legal terms

cash-refund annuity

Read a random definition: stipulatio aquiliana

A quick definition of cash-refund annuity:

An annuity is a type of payment that someone receives regularly, usually monthly or yearly. It can be a fixed amount of money or a payment that changes based on investments. When someone buys an annuity, they pay a certain amount of money upfront and then receive payments for a set amount of time. Some annuities continue to pay even after the person who bought it dies, while others stop. A cash-refund annuity is a type of annuity that pays a lump sum of money to the person's family after they die, equal to the difference between the total payments received and the original price paid.

A more thorough explanation:

A cash-refund annuity is a type of annuity that provides for a lump-sum payment after the annuitant's death of the difference between the total received and the price paid. An annuity is an obligation to pay a stated sum, usually monthly or annually, to a stated recipient. These payments terminate upon the death of the designated beneficiary.

For example, if someone purchases a cash-refund annuity for $100,000 and receives $50,000 in payments before passing away, their beneficiary would receive a lump-sum payment of $50,000 to make up the difference between the total received and the price paid.

Cash-refund annuities are a way to ensure that the annuitant's beneficiaries receive some benefit from the annuity if the annuitant passes away before receiving the full value of the annuity. It provides a safety net for the annuitant's loved ones.

cash-out merger | cash sale

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Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
babycat
9:55
it’s true he sent me feet pics (unsolicited!)
babycat
9:56
poor little glovey
babycat
9:56
it’s illegal to make you work on a snow day
BulbasaurNoLikeCardio
9:57
Free feet pics sounds like you saved some money
snow
9:59
wish it was snowing in texas rn
Dkk
9:59
Man, hate this conversation cus it just reminds me of the gay guy that used to always ask me for them.
BulbasaurNoLikeCardio
9:59
That cold snap that hit texas is heaven though, opening windows in the house and using the fireplace
snow
10:00
it really is bulb. it was hot as hell for the longest time
BulbasaurNoLikeCardio
10:00
@Dkk: You could of made so much money
that sounds heavenly
babycat
10:00
Aw Dkk has trauma from the gay guy who wanted to fuck his arches
snow
10:00
lmaooooo
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