- 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.
Origin of annuity
Examples from the Web for annuity
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
January 23, 2012
But that $1 million is actually an annuity, which pays out about $25,000 over 40 years—before taxes.Reality TV Scams
June 14, 2010
She compromised for an annuity of two hundred pounds, to be continued to her child.The Incomplete Amorist
My money is an annuity, so that I cannot leave anything to my children.My Double Life
If the deceased had no claim upon you, why did you promise him an annuity?Henry Dunbar
M. E. Braddon
If she had taken her annuity as usual, you would not have been here, and we should have been better off.Barnaby Rudge
It is only fair to tell you that I have no money but my annuity.A Singer from the Sea
Amelia Edith Huddleston Barr
- 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
Word Origin and History for annuity
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.
A sum of money payable yearly or at regular intervals.