reversionary annuity

[ ri-vur-zhuh-ner-eeuh-noo-i-tee, uh-nyoo-, -shuh-ner-ee ]

nounInsurance.
  1. an annuity payable to a beneficiary during the period of time they survive the insured.

Origin of reversionary annuity

1
First recorded in 1760–70

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024