WordValenoun
annuity
a fixed sum paid to someone each year, typically for life
In more detail
1. (noun) a fixed sum of money paid to someone each year, usually for the rest of their life
2. (noun) a financial product that you buy from an insurance company, which pays you money regularly
Examples
- 1. She receives an annuity of $5,000 per month in retirement.
- 2. He invested in an annuity to ensure steady income after he stops working.
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