annuity /əˈnjuːɪti/


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

– origin late Middle English: from French annuité, from medieval Latin annuitas, from Latin annuus ‘yearly’, from annus ‘year’.

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