Definitions from the Web
Refundable
Adjective
Capable of being refunded or returned for repayment.
Senses:
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General:
Describing an item, product, or service that can be returned to the seller in order to receive a refund.
E.g. The store has a 30-day refundable policy for all its merchandise.
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Travel:
Pertaining to a ticket, reservation, or fare that can be canceled, and the paid amount can be claimed back.
E.g. The airline's refundable tickets allow passengers to change their travel plans without any additional charges.
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Insurance:
Relating to a type of policy that guarantees a reimbursement of money paid in the case of certain events.
E.g. Make sure you opt for the refundable insurance option when booking your rental car.
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