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.
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How to use immediate annuity in a sentence
He may purchase an immediate annuity, though in this case the purchase-money must always be paid in one sum.A History of Banks for Savings in Great Britain and Ireland | William Lewins
British Dictionary definitions for 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