I. noun 1. a fixed sum of money paid to someone each year, typically for the rest of their life. • he left her an annuity of £1,000 in his will:
2. a form of insurance or investment entitling the investor to a series of annual sums. • loans secured on an older person’s home which are used to purchase a life annuity.
• [as modifier]
an annuity scheme.
II. derivatives annuitize annuitise verb
– origin late Middle English: from French annuité, from medieval Latin annuitas, from Latin annuus ‘yearly’, from annus ‘year’.