An annuity that issues a refund to the named beneficiary should the annuitant die before benefits amounting to the same total he or she paid on the policy are drawn.

An annuity that pays out the same amount paid in by the insured. Installment payments are made to the insured during his or her lifetime, and made to the beneficiary after the insured dies.

A form of reinsurance, typically yearly renewable term, under which the premium rates are subject to an experience refund as opposed to being fixed (nonrefund).