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From Longman Dictionary of Contemporary English
Related topics: Finance
annuityan‧nu‧i‧ty /əˈnjuːəti $ əˈnuː-/ noun (plural annuities) [countable]  BFa fixed amount of money that is paid each year to someone, usually until they die
Examples from the Corpus
annuityThe final breach grew from Southey's good fortune in being offered an annuity of £160 during the summer of 1795.However, income deriving from pension schemes and annuities is subject to income tax.You may learn about tax-deferred annuities, other retirement plans, dollar-cost averaging and so on.Compensation would be paid in the form of shares in newly privatized companies, or in annuities.The amount of the annuity that will be taxable will depend mainly on her age when she buys the annuity.Customers can order the annuity on-line but must pay for it through traditional mail.If everyone were required to convert their parental trust funds to annuities at retirement, this problem could be alleviated.Clearly, teachers considering this variable annuity have a lot of homework ahead of them.
From Longman Business Dictionaryannuityan‧nu‧i‧ty /əˈnjuːətiəˈnuː-/ noun (plural annuities) [countable]1INSURANCE the right to regular future payments bought from an insurer. Many people buy an annuity to provide income for them when they stop workingThey have put most of their life savings intoannuity contracts.2the payments from an annuity contractHer annual annuity is $50,000. deferred annuity immediate annuity joint annuity
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