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immediate annuity

an annuity bought with a single premium, with payments to the annuitant to begin at the end of one payment period, as a month or a year.
Compare deferred annuity. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2017.
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British Dictionary definitions for immediate annuity

immediate annuity

an annuity that starts less than a year after its purchase Compare deferred annuity
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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