A cash refund annuity is a life annuity with a provision that at the time of death, an amount will be paid in a lump sum equal to the excess, if any, of the present value of the annuity at the time of commencement, over the sum of the annuity payments received prior to death.
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Function
Name |
Category |
Description |
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Single life |
Present value of single life
cash refund annuity |
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Single life |
Present value of single life
cash refund annuity -- according to Jordan |
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Single life |
Present value of single life cash refund annuity -- simplified parameters with PPA interest and mortality |
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