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Simple English definitions for legal terms

cash-refund annuity

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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.

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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