Questions? 1.800.239.0356

X
1.800.239.0356
Back to Top

Term

Installment Refund

A type of immediate annuity payout option where the insurance company guarantees that the total payout will not be less than the amount paid to purchase the annuity. If the annuitant dies before receiving payments that equal the purchase price, the difference is paid to the named beneficiaries in installments.