annuity
an·nu·ity /ə-'nü-ə-tē, -'nyü-/ n pl -ities [Medieval Latin annuitas, from Latin annuus yearly]
1: an amount payable at regular intervals (as yearly or quarterly) for a certain or uncertain period
2: the grant of or the right to receive an annuity
his will included annuities for several old friends
3: a contract (as with an insurance company) under which one or more persons receive annuities in return for prior fixed payments made by themselves or another (as an employer)
annuity cer·tain, pl, annuities certain: an annuity payable over a specified period even if the annuitant dies
annuity due, pl, annuities due: an immediate annuity in which the payment of the benefits is made at the beginning of each payment interval rather than at the end
contingent annuity: an annuity whose starting or ending date depends on the occurrence of an event (as the death of the annuitant) whose date is uncertain
con·ven·tion·al annuity: an annuity under which the annuitant receives a specified minimum amount at each payment compare variable annuity in this entry
deferred annuity: an annuity in which payment of benefits is delayed until a particular time (as at retirement) compare immediate annuity in this entry
group annuity: a pension plan paying annuity benefits at retirement for all eligible persons under a single master contract usu. issued to an employer for the benefit of its employees
im·me·di·ate annuity: an annuity purchased with a single premium in which payment of benefits begins within the first payment interval (as within a year) compare deferred annuity in this entry
joint–and–survivor annuity: an annuity payable as long as any of the two or more annuitants remains alive – called also joint-and-last-survivor annuity, joint and survivorship annuity, joint life and survivorship annuity; compare joint life annuity in this entry
joint life annuity: an annuity payable only until the death of any of the annuitants – called also joint annuity; compare joint-and-survivor annuity in this entry
life annuity: an annuity payable during the annuitant's lifetime and terminating at death – called also straight life annuity;
life income–pe·ri·od cer·tain annuity: an annuity that guarantees a minimum number of payments even if the annuitant dies before the minimum amount is paid or a minimum number of payments plus income for life if the annuitant is still alive after the minimum amount is paid
refund annuity: an annuity in which payments to the annuitant or to the annuitant's estate or to a beneficiary are guaranteed to equal at least the amount of the premium paid for the annuity
straight life annuity: life annuity in this entry
var·i·able annuity /'ver-ē-ə-bəl-/: an annuity that is backed primarily by a fund of common stocks and whose payments go up or down depending on how well the stocks perform compare conventional annuity in this entry variable life insurance at life insurance

Merriam-Webster’s Dictionary of Law. . 1996.

annuity
I noun allotment, allowance, annua pecunia, annual allowance, earnings, income, pension, remuneration, retirement income, return, specified income payable for life, stipend, subsidy, subvention, yearly payment associated concepts: annuity by a trust, annuity by will, annuity contract, annuity policy, antenuptial annuity, life insurance annuity, verifiable annuity foreign phrases:
- Annua nec debitum judex non separat ipsum. — A judge does not divide annuities nor debt.
II index allotment, pension, perquisite

Burton's Legal Thesaurus. . 2006


annuity
n.
A fixed sum paid to a person periodically for a set period of time, often for life.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


annuity
an entitlement to a specified sum of money that lasts for the duration of the life of the beneficiary or annuitant. Annuities may be created under a trust or they may be purchased from a life insurance company (in which case no trust is needed).

Collins dictionary of law. . 2001.


annuity
A purchased policy that pays a fixed amount of benefits every year — although most annuities actually pay monthly — for the life of the person who is entitled to those benefits. In a simple life annuity, when the person receiving the annuity dies, the benefits stop; there is no final lump sum payment and no provision to pay benefits to a spouse or other survivor. A continuous annuity pays monthly installments for the life of the retired worker, and also provides a smaller continuing annuity for the worker's spouse or other survivor after the worker's death. A joint and survivor annuity pays monthly benefits as long as the retired worker is alive, and then continues to pay the worker's spouse for life.
Category: Personal Finance & Retirement → Retirement Planning

Nolo’s Plain-English Law Dictionary. . 2009.

annuity
A fixed income, receivable for the life of the recipient or a specified period, which is secured by the payment of a capital sum. Pensions from retirement annuity contracts and personal pension schemes are usually paid as annuities.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


annuity
n. A fixed sum paid out at regular intervals for a certain period of time and subject to limitations set by the grantor. For example, a person may be entitled to fixed and periodic payments for the rest of his life once he reaches a certain age.
See also life estate, trust.

Webster's New World Law Dictionary. . 2000.


annuity
A right to receive periodic payments, usually fixed in size, for life or a term of years that is created by a contract or other legal document.

Dictionary from West's Encyclopedia of American Law. 2005.


annuity
A right to receive periodic payments, usually fixed in size, for life or a term of years that is created by a contract or other legal document.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

annuity
n.
   1) an annual sum paid from a policy or gift.
   2) short for a purchased annuity policy which will pay dividends to the owner regularly for years or for life.

Law dictionary. . 2013.

Look at other dictionaries:

  • Annuity — An*nu i*ty, n.; pl. {Annuities}. [LL. annuitas, fr. L. annus year: cf. F. annuit[ e].] A sum of money, payable yearly, to continue for a given number of years, for life, or forever; an annual allowance. [1913 Webster] …   The Collaborative International Dictionary of English

  • annuity — (n.) early 15c., a yearly allowance, grant payable in annual installments, from Anglo Fr., O.Fr. annuité (14c.) or directly from M.L. annuitatem (nom. annuitas), from L. annus year (see ANNUAL (Cf. annual) (adj.)). Meaning an investment that… …   Etymology dictionary

  • annuity — ► NOUN (pl. annuities) ▪ a fixed yearly allowance, especially one provided by a form of investment. ORIGIN Latin annuitas, from annuus yearly …   English terms dictionary

  • annuity — [ə no͞o′ə tē, ənyo͞o′ə tē] n. pl. annuities [ME & OFr annuite < ML annuitas < L annuus, annual < annus: see ANNUAL] 1. a payment of a fixed sum of money at regular intervals of time, esp. yearly 2. an investment yielding periodic… …   English World dictionary

  • annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… …   Black's law dictionary

  • annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… …   Black's law dictionary

  • annuity — A regular periodic payment ( periodic payments) made by an insurance company to a policyholder for a specified period of time. Bloomberg Financial Dictionary An annuity is essentially a regular income for life and is usually purchased with your… …   Financial and business terms

  • Annuity — A regular periodic payment made by an insurance company to a policyholder for a specified period of time. The New York Times Financial Glossary * * * annuity an‧nu‧i‧ty [əˈnjuːti ǁ əˈnuː ] noun annuities PLURALFORM [countable] 1. INSURANCE the… …   Financial and business terms

  • annuity — /euh nooh i tee, euh nyooh /, n., pl. annuities. 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… …   Universalium

  • annuity — In the older sense of the term, a yearly payment of a certain sum of money granted to another in fee, for life, or for years. In the modern sense, a right, bequeathed, donated, or purchased, to receive fixed or certain periodical payments,… …   Ballentine's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”