An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made?

Insurance

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An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made?

Options

a) Variable annuity
b) Refund annuity
c) Rebate annuity
d) Return annuity

Answer: b) Refund annuity

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