annuity

noun

annuity

noun

/əˈn(j)uɪti/

Etymology From French annuité, from Medieval Latin annuitās, from Latin annuus (“annual”). Cf. annuality.

Business, Insurance A right to receive amounts of money regularly over a certain fixed period, in perpetuity, or, especially, over the remaining life or lives of one or more beneficiaries.

Derived terms: annuitant, annuitize, life annuity, retirement annuity contract, retirement annuity plan
Related terms: perpetuity, annual, per annum, perennial

Entry derived from the Wiktionary, under licence CC BY-SA 4.0 — list of authors.