Definition Annuity

Under the terms of a life insurance policy the insurer will generally make a payment upon the death of the insured.

Definition annuity. The right to receive or the duty to pay such a sum. Fixed annuities make payments based on. An annuity is similar to a life insurance product but there are important differences between the two.

How much you get is determined by the rate the annuity provider offers. How Annuities Work. See at- in Indo-European roots.

You invest a lump sum that is returned with interest in periodic payments. In the United States an annuity is a structured product that each state approves and regulates. An annuity is a series of equal payments made at equal intervals during a period of time.

An entitlement to a specified sum of money that lasts for the duration of the life of the beneficiary or annuitant. A contract or agreement by which one receives fixed payments on an investment for a lifetime or for a specified number of years. Under the terms of an annuity however the company makes its payments during the lifetime of the individualIn addition unless the annuity.

A product offered by an insurance company or an employer to which one makes contribution s and immediately or later begins receiving payments which usually last the remainder of the annuitants life. In annuity contract the insurer undertakes to pay certain level sums periodically up to death or expiry of the term. An annuity is an insurance product that allows you to swap your pension savings for a guaranteed regular income that will last for the rest of your life.

An insurance policy or an investment that pays someone a fixed amount of money each year. English Language Learners Definition of annuity. Collins Dictionary of Law WJ.