A form of annuity contract which provides that, if at the death of the annuitant installments paid to him have not totaled the amount of the premium paid for the annuity, the difference will be paid to a designated beneficiary in a lump sum.
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Generally refers to (1) the amount of reduction in the value of an Insured’s property caused by an Insured peril; (2) the amount sought through an Insured’s claim; or (3) the amount paid on behalf of an Insured under an insurance contract.