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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, əˈnyu-, -ʃəˌnɛr i /

noun

Insurance.

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

Etymology

Origin of reversionary annuity

First recorded in 1760–70

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

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.