Annuity



a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient’s life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
the right to receive such an income, or the duty to make such a payment or payments.
Contemporary Examples

But that $1 million is actually an annuity, which pays out about $25,000 over 40 years—before taxes.
Reality TV Scams Andy Dehnart June 13, 2010

With the remaining $1.775 million, he can buy an annuity that yields almost $89,000 – which still beats working.
Capital Gains: Answering Krugman and Bernstein David Frum January 22, 2012

Historical Examples

He bought an annuity in the king’s household and became one of the Gentlemen of the bed chamber.
The Loyalists of Massachusetts James H. Stark

He’s got some kind of annuity from a New York life insurance company.
By Proxy Gordon Randall Garrett

Sometimes a father leaves an annuity for the support of his daughter in her convent.
Medieval English Nunneries c. 1275 to 1535 Eileen Edna Power

She sold her annuity, or gave up her income, in some way, when we came here.
Christie Redfern’s Troubles Margaret Robertson

The worthy man, who showed such judgment in the matter of his annuity, was at fault here.
An Old Maid Honore de Balzac

She compromised for an annuity of two hundred pounds, to be continued to her child.
The Incomplete Amorist E. Nesbit

Bad corn years had driven some of the native Christians to take refuge among the annuity Indians of the Mississippi.
Mary and I Stephen Return Riggs

It is only fair to tell you that I have no money but my annuity.
A Singer from the Sea Amelia Edith Huddleston Barr

noun (pl) -ties
a fixed sum payable at specified intervals, esp annually, over a period, such as the recipient’s life, or in perpetuity, in return for a premium paid either in instalments or in a single payment
the right to receive or the duty to pay such a sum
n.

early 15c., “a yearly allowance, grant payable in annual installments,” from Anglo-French and Old French annuité (14c.) or directly from Medieval Latin annuitatem (nominative annuitas), from Latin annus “year” (see annual (adj.)). Meaning “an investment that entitles one to equal annual payments” is from 1690s.
annuity [(uh-nooh-uh-tee)]

A sum of money payable yearly or at regular intervals.

Note: Many people’s retirement funds are set up to be paid in annuities.

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