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deferred annuity

American  

noun

  1. an annuity that starts at the end of a specified period or after the annuitant reaches a certain age.

deferred annuity British  

noun

  1. an annuity that commences not less than one year after the final purchase premium Compare immediate annuity

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Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.