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annuity

[əˈnjuːɪti]

annuity Definition

  • 1a fixed sum of money paid to someone each year, typically for the rest of their life
  • 2a form of insurance or investment entitling the investor to a series of annual sums

Using annuity: Examples

Take a moment to familiarize yourself with how "annuity" can be used in various situations through the following examples!

  • Example

    He receives an annuity of $10,000 per year from his former employer.

  • Example

    The lottery winner chose to receive her winnings as an annuity over 20 years.

  • Example

    An annuity can provide a steady stream of income during retirement.

annuity Synonyms and Antonyms

Synonyms for annuity

Phrases with annuity

  • an annuity that begins paying out immediately after it is purchased

    Example

    She used her retirement savings to purchase an immediate annuity.

  • an annuity that pays out a fixed amount of money at regular intervals

    Example

    He invested in a fixed annuity to ensure a steady stream of income during retirement.

  • an annuity that pays out a variable amount of money based on the performance of the underlying investments

    Example

    She decided to invest in a variable annuity to potentially earn higher returns.

Origins of annuity

from Latin 'annus', meaning 'year'

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Summary: annuity in Brief

An 'annuity' [əˈnjuːɪti] is a fixed sum of money paid to someone each year, typically for the rest of their life. It can also refer to a form of insurance or investment that entitles the investor to a series of annual sums. Examples include receiving an annuity from a former employer or choosing to receive lottery winnings as an annuity. Types of annuities include immediate, fixed, and variable annuities.