an annual (=once a year) payment made to a beneficiary, the annuitant, either for life or for a specified period If you have the option of a lump-sum payment or an annuity, you face an excruciating (=very difficult) choice.
a type of investment where an investor pays an initial principal in return for cash payments each year, usually for a specified period or for the lifetime of the annuitant; a cash payment made as a return on such an investment Your employer may offer a 403(b) pension plan or a tax-sheltered annuity.
- He receives a small annuity.
- She bought an annuity on retirement.
- How much do you get under your annuity policy?
- I converted some of my savings into an annuity.
- He was offered $250,000 as a flat payment and then an annuity of $75,000 a year over enough years to equal $1 million.
- Compare pension fund