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immediate annuity

noun
  1. 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.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for immediate annuity

immediate annuity

noun
  1. an annuity that starts less than a year after its purchaseCompare deferred annuity
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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