Full Cash Refund Annuity definition

Full Cash Refund Annuity means an annuity payable as follows. Equal monthly payments are made to a Participant’s beneficiary for the beneficiary’s life and end with the payment due for the month in which the beneficiary dies. Further, if the cost of such annuity exceeds the total of all monthly payments made under the annuity through the month in which the beneficiary dies, then the amount of such excess shall be paid to a contingent beneficiary. The beneficiary shall name the contingent beneficiary for purposes of such annuity in his or her election of this form.
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Examples of Full Cash Refund Annuity in a sentence

  • The Table of Guarantee Annuity Payment set forth the minimum amount of monthly income that $1,000 of Participant's Amount Applied will provide under the Contract on the Full Cash Refund Annuity Form.

  • The Tables of Guaranteed Annuity Payments set forth the minimum amount of monthly income that $1,000 of Participant's Account Balance will provide under the Contract on the Full Cash Refund Annuity Form.

  • The Full Cash Refund Annuity form provides for monthly payments to the Participant continuing to the first day of the month in which his death occurs.

  • No. 15,000 AC 5904 Page 22 TABLE OF GUARANTEED ANNUITY PAYMENTS (Based on Age Nearest Birthday on Due Date of First Payment) Annuity Benefit Payable On The Full Cash Refund Annuity Form (Minimum Monthly Income Per $1,000 of Amount Applied) Age ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ------ ---------------- 60 4.18 61 4.26 62 4.34 63 4.43 64 4.52 65 4.62 66 4.73 67 4.83 68 4.95 69 5.07 70 5.20 Amounts applicable for ages or for annuity forms not shown will be calculated by Equitable on the same actuarial basis.