Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
cash-refund annuity
an annuity providing for a lump-sum payment after the annuitant's death of the difference between the total received and the price paid.
nonrefund annuity
an annuity with guaranteed payments during the annuitant's life, but with no refund to anyone at death. -also termed straight life annuity; pure annuity.
refund annuity
See ANNUITY.