Meaning of annuity


Pronunciation: (u-n'i-tē, u-ny'-), [key]
— pl. -ties.
  1. a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
  2. the right to receive such an income, or the duty to make such a payment or payments.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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