an·nu·i·ty

[uh-noo-i-tee, uh-nyoo-]
noun, plural an·nu·i·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.

Origin:
1400–50; late Middle English < Anglo-French annuité, annualté < Medieval Latin annuitās, equivalent to Latin annu(us) yearly (derivative of annus year) + -itās -ity

su·per·an·nu·i·ty, noun, plural su·per·an·nu·i·ties.
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Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
annuity (əˈnjuːɪtɪ) [Click for IPA pronunciation guide]
 
n , 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
 
[C15: from French annuité, from Medieval Latin annuitās, from Latin annuusannual]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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00:10
Annuity is always a great word to know.
So is slumgullion. Does it mean:
a printed punctuation mark (‽), available only in some typefaces, designed to combine the question mark (?) and the exclamation point (!), indicating a mixture of query and interjection, as after a rhetorical question.
a stew of meat, vegetables, potatoes, etc.
Etymonline
Word Origin & History

annuity
early 15c., "a yearly allowance," from O.Fr. annuité, from M.L. annuitatem (nom. annuitas), from L. annus "year" (see annual). Meaning "an investment that entitles one to equal annual payments" is from 1690s.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
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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Example sentences
Risks are few, if you buy a fixed-rate annuity from a top-rated insurance
  company.
The principal from the mortgages is distributed in a series of lump sum
  payments or an annuity.
So annuity rates or government bond yields are the appropriate measure for
  discounting liabilities.
SS was to be the annuity of old age, but now it's called a handout.
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