A contract that allows for payment to the beneficiary of the difference between the original cost of the annuity and total benefit payments already paid if the annuitant dies before the full cost has been paid out in cash.
A contract which provides for the continuance of an annuity during the lifetime of the annuitant, but an any event until total payments equal to the purchase price have been made by the company.
An annuity that returns all or part of the purchase price at the annuitantâ€(tm)s death.