annuity

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English[edit]

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Pronunciation[edit]

Etymology[edit]

From French annuité, from Medieval Latin annuitās, from Latin annuus (annual).

Noun[edit]

annuity (plural annuities)

  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. For example, a retirement annuity paid to a public officer following his or her retirement.
  2. The right to receive such an income.
  3. The duty to make such a payment or payments.

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