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annuity

   Also found in: Dictionary/thesaurus, Medical, 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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That is very true, and, therefore, I do not know whether, upon the whole, it would not be more advisable to do something for their mother while she lives, rather than for them--something of the annuity kind I mean.
Sense and Sensibility by Austen, Jane View in context
From the time of his settling in Alencon he had nobly admitted his poverty, saying that his whole fortune consisted in an annuity of six hundred francs a year, the sole remains of his former opulence,--a property which obliged him to see his man of business (who held the annuity papers) quarterly.
An Old Maid by de Balzac, Honore View in context
the House had never been their own and their Fortune had only been an Annuity on their own Lives.
Love and Friendship by Austen, Jane View in context
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