annuity

[uh-noo-i-tee, uh-nyoo-]

noun

plural

annuities 

1. 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.

2. the right to receive such an income, or the duty to make such a payment or payments.

annuity

/ əˈnjuːɪtɪ /

noun

1. 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

2. the right to receive or the duty to pay such a sum

annuity

1. A sum of money payable yearly or at regular intervals.

Many people's retirement funds are set up to be paid in annuities.

Other Word Forms

• superannuity noun

Word History and Origins

Origin of annuity¹

First recorded in 1400–50; late Middle English, from Anglo-French annuité, annualté, from Medieval Latin annuitās, equivalent to Latin annu(us) “yearly,” derivative of annus “year” + -itās -ity

Word History and Origins

Origin of annuity¹

C15: from French annuité, from Medieval Latin annuitās, from Latin annuus _annual

Example Sentences

It is exceedingly difficult for insurance customers to know if the money they put away in a policy or annuity has been shifted offshore.

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It counts more than four million customers and sold more than $41 billion of insurance and annuities last year.

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The perks of the contract include an annual $50,000 retirement annuity over and above his salary.

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If the winner picks the annuity option, they will one payment immediately and then 29 annual payments, increasing by 5% each year.

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A winner who selects the annuity option would receive one immediate payment followed by 29 annual payments that increase 5% each year.

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Related Words

• amount 
• award 
• cash 
• deposit 
• disbursement 
• fee 
• outlay 
• pension 
• premium 
• refund 
• reimbursement 
• remittance 
• reparation 
• repayment www.thesaurus.com
• restitution 
• return 
• reward 
• royalty 
• salary 
• settlement