Meaning of annuity
Pronunciation: (u-n'i-tē, u-ny'-), [key]
— pl. -ties.
- 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.
- the right to receive such an income, or the duty to make such a payment or payments.
- annuity (Thesaurus)