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annuity
(redirected from Annuitize)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia, Hutchinson 0.04 sec.
annuity: see insurance insurance or assurance, device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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annuity

Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Under an annuity certain, a specified number of payments are made, after which the annuity stops. With a contingent annuity, each payment depends on the continuance of a given status; for example, a life annuity continues only as long as the recipient survives. Contingent annuities such as pension plans or life insurance depend on shared risk. Everyone pays in a fixed amount until the annuity begins; some will not live long enough to receive back all the money they have paid, while others will live long enough to collect more than they have paid.
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Elam observed that people are increasingly turning to annuities for income, and much of that is going on without having to annuitize.
Fencing in the risk: medically underwritten immediate annuities are ... by Panko, Ron / Best's Review
55% * Be based on the higher of actual account values at the date the policy owner elects to annuitize or a contractually specified amount.
Official releases: FASB No. 132 ... SOP 03-4 ... SOP 03-5 by Journal of Accountancy
The premium pension system allows Swedes to keep their funds in their PPM-sponsored portfolios rather than annuitize upon retirement.
Design and implementation issues in Swedish individual pension ... by Weaver, R. Kent / Social Security Bulletin
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