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reversionary annuity

American

[ri-vur-zhuh-ner-ee uh-noo-i-tee, uh-nyoo-, -shuh-ner-ee] / rɪˈvɜr ʒəˌnɛr i əˈnu ɪ ti, əˈnju-, -ʃəˌnɛr i /

noun

Insurance.

an annuity payable to a beneficiary during the period of time they survive the insured.

First recorded in 1760–70

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