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LSDefine

Simple English definitions for legal terms

cash-refund annuity

Read a random definition: dedimus potestatum

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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