reversionary annuity

[ ri-vur-zhuh-ner-ee uh-noo-i-tee, uh-nyoo-, -shuh-ner-ee ]

noun

, Insurance.

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

Word History and Origins

Origin of reversionary annuity¹

First recorded in 1760–70