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).

The Tariff Advisory Committee has constituted Regional Committees by drawing members from among the underwriters of the subsidiary companies. The duties of the Regional Committees are to (i) advise the TAC on matters relating to fixation of rates, terms and conditions etc. for risks in its region which may be referred to it by the TAC. and (ii) perform such functions as may be delegated to it by the TAC.