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immediate annuity
noun
- 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.
immediate annuity
noun
- See deferred annuityan annuity that starts less than a year after its purchase Compare deferred annuity
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Example Sentences
He may purchase an Immediate Annuity, though in this case the purchase-money must always be paid in one sum.
From Project Gutenberg
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