/ Dictionary / Index R refund annuity: Meaning and Definition of Find definitions for: re'fund annu"ity Pronunciation: [key] — Insurance. Insurance. an annuity providing for a lump-sum payment or installment payments to the beneficiary for the amount remaining of the purchase price at the death of the annuitant. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. refund refurbish Related Content Daily Word Quiz: placid Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language