What do a.m. and p.m. stand for?

immediate annuity

an annuity bought with a single premium, with payments to the annuitant to begin at the end of one payment period, as a month or a year.
Compare deferred annuity. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for immediate annuity
  • Your agency must certify that you are eligible for an immediate annuity.
  • With an immediate annuity, income payments start no later than one year after you pay the premium.
  • With an immediate annuity, you will be told at the time of purchase exactly how much money you will get and when you will get it.
  • We oppose a rule that would cause such a result for an immediate annuity.
  • If the payments start immediately, it is called an immediate annuity.
  • If the payments start immediately, you have an immediate annuity.
British Dictionary definitions for immediate annuity

immediate annuity

an annuity that starts less than a year after its purchase Compare deferred annuity
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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