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annuity

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noun an·nu·ity \ə-ˈnü-ə-tē, -ˈnyü-\

Simple Definition of annuity

  • : a fixed amount of money that is paid to someone each year

  • : an insurance policy or an investment that pays someone a fixed amount of money each year

Full Definition of annuity

plural an·nu·ities

  1. 1 :  a sum of money payable yearly or at other regular intervals

  2. 2 :  the right to receive an annuity

  3. 3 :  a contract or agreement providing for the payment of an annuity

Examples of annuity

  1. Part of her retirement income will come from an annuity.

  2. <his grandfather's will provided him with an annuity of $5,000 a year to be used for school expenses>



Origin of annuity

Middle English annuite, from Anglo-French annuité, from Medieval Latin annuitat-, annuitas, from Latin annuus yearly


First Known Use: 15th century



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