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immediate annuity

American

noun

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.

immediate annuity British

noun

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

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

An immediate annuity gives you income immediately, as its name suggests, whereas you may have to wait 12 months with other annuity contracts.

From MarketWatch

“The single-premium immediate annuity is one of the most popular forms of annuity and the most efficient,” said Josh Weinstein, vice president of lifetime income solutions at Fidelity.

From MarketWatch

Last week, the company announced a lineup of target-date funds where the fixed-income portion of the portfolio is designed to flow into a single-premium immediate annuity policy upon retirement.

From MarketWatch

Meanwhile, customers with their retirement accounts at Vanguard can still purchase a single premium immediate annuity at retirement through Vanguard’s third-party partner.

From MarketWatch

A single-premium immediate annuity sold by insurers and brokerage firms — where you hand over a sum of money and the company invests it — can also provide monthly lifetime income.

From MarketWatch

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023