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annuity

[uh-noo-i-tee, uh-nyoo-] /əˈnu ɪ ti, əˈnyu-/
noun, plural 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 payments or in a single payment.
2.
the right to receive such an income, or the duty to make such a payment or payments.
Origin
late Middle English
1400-1450
1400-50; late Middle English < Anglo-French annuité, annualté < Medieval Latin annuitās, equivalent to Latin annu(us) yearly (derivative of annus year) + -itās -ity
Related forms
superannuity, noun, plural superannuities.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for annuities
  • Property, mutual funds, shares and annuities took the biggest knocks.
  • There are clever ways to buy annuities in the years leading up to retirement that mitigate some of the risk.
  • Even with immediate annuities, fees can be excessive.
  • And it would create a new federal agency to oversee consumer products such as mortgages, annuities and credit cards.
  • Many sheltered annuities require that you remove your investment if you have less than a specified amount.
  • Provides eligibility and summary for long-term care annuities.
  • Senior citizens should be aware of deceptive sales practices when purchasing annuities.
  • It is important that you understand the differences among various annuities so you can choose the kind that best fits your needs.
British Dictionary definitions for annuities

annuity

/əˈnjuːɪtɪ/
noun (pl) -ties
1.
a fixed sum payable at specified intervals, esp annually, over a period, such as the recipient's life, or in perpetuity, in return for a premium paid either in instalments or in a single payment
2.
the right to receive or the duty to pay such a sum
Word Origin
C15: from French annuité, from Medieval Latin annuitās, from Latin annuusannual
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for annuities

annuity

n.

early 15c., "a yearly allowance, grant payable in annual installments," from Anglo-French and Old French annuité (14c.) or directly from Medieval Latin annuitatem (nominative annuitas), from Latin annus "year" (see annual (adj.)). Meaning "an investment that entitles one to equal annual payments" is from 1690s.

Online Etymology Dictionary, © 2010 Douglas Harper
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annuities in Culture
annuity [(uh-nooh-uh-tee)]

A sum of money payable yearly or at regular intervals.

Note: Many people's retirement funds are set up to be paid in annuities.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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9
12
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