annuity








noun, plural an·nu·i·ties.

  1. a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient’s life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
  2. the right to receive such an income, or the duty to make such a payment or payments.

noun plural -ties

  1. a fixed sum payable at specified intervals, esp annually, over a period, such as the recipient’s life, or in perpetuity, in return for a premium paid either in instalments or in a single payment
  2. the right to receive or the duty to pay such a sum
n.

early 15c., “a yearly allowance, grant payable in annual installments,” from Anglo-French and Old French annuité (14c.) or directly from Medieval Latin annuitatem (nominative annuitas), from Latin annus “year” (see annual (adj.)). Meaning “an investment that entitles one to equal annual payments” is from 1690s.

A sum of money payable yearly or at regular intervals.

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