- annuity
-
an·nu·ity /ə-'nü-ə-tē, -'nyü-/ n pl -ities [Medieval Latin annuitas, from Latin annuus yearly]1: an amount payable at regular intervals (as yearly or quarterly) for a certain or uncertain period2: the grant of or the right to receive an annuityhis will included annuities for several old friends3: a contract (as with an insurance company) under which one or more persons receive annuities in return for prior fixed payments made by themselves or another (as an employer)annuity cer·tain, pl, annuities certain: an annuity payable over a specified period even if the annuitant diesannuity due, pl, annuities due: an immediate annuity in which the payment of the benefits is made at the beginning of each payment interval rather than at the endcontingent annuity: an annuity whose starting or ending date depends on the occurrence of an event (as the death of the annuitant) whose date is uncertaincon·ven·tion·al annuity: an annuity under which the annuitant receives a specified minimum amount at each payment compare variable annuity in this entrydeferred annuity: an annuity in which payment of benefits is delayed until a particular time (as at retirement) compare immediate annuity in this entrygroup annuity: a pension plan paying annuity benefits at retirement for all eligible persons under a single master contract usu. issued to an employer for the benefit of its employeesim·me·di·ate annuity: an annuity purchased with a single premium in which payment of benefits begins within the first payment interval (as within a year) compare deferred annuity in this entryjoint–and–survivor annuity: an annuity payable as long as any of the two or more annuitants remains alive – called also joint-and-last-survivor annuity, joint and survivorship annuity, joint life and survivorship annuity; compare joint life annuity in this entryjoint life annuity: an annuity payable only until the death of any of the annuitants – called also joint annuity; compare joint-and-survivor annuity in this entrylife annuity: an annuity payable during the annuitant's lifetime and terminating at death – called also straight life annuity;life income–pe·ri·od cer·tain annuity: an annuity that guarantees a minimum number of payments even if the annuitant dies before the minimum amount is paid or a minimum number of payments plus income for life if the annuitant is still alive after the minimum amount is paidrefund annuity: an annuity in which payments to the annuitant or to the annuitant's estate or to a beneficiary are guaranteed to equal at least the amount of the premium paid for the annuitystraight life annuity: life annuity in this entryvar·i·able annuity /'ver-ē-ə-bəl-/: an annuity that is backed primarily by a fund of common stocks and whose payments go up or down depending on how well the stocks perform compare conventional annuity in this entry variable life insurance at life insurance
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- annuity
-
I
noun
allotment, allowance, annua pecunia, annual allowance, earnings, income, pension, remuneration, retirement income, return, specified income payable for life, stipend, subsidy, subvention, yearly payment
associated concepts: annuity by a trust, annuity by will, annuity contract, annuity policy, antenuptial annuity, life insurance annuity, verifiable annuity
foreign phrases:
- Annua nec debitum judex non separat ipsum. — A judge does not divide annuities nor debt.II index allotment, pension, perquisite
Burton's Legal Thesaurus. William C. Burton. 2006
- annuity
-
n.A fixed sum paid to a person periodically for a set period of time, often for life.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- annuity
-
an entitlement to a specified sum of money that lasts for the duration of the life of the beneficiary or annuitant. Annuities may be created under a trust or they may be purchased from a life insurance company (in which case no trust is needed).
Collins dictionary of law. W. J. Stewart. 2001.
- annuity
-
A purchased policy that pays a fixed amount of benefits every year — although most annuities actually pay monthly — for the life of the person who is entitled to those benefits. In a simple life annuity, when the person receiving the annuity dies, the benefits stop; there is no final lump sum payment and no provision to pay benefits to a spouse or other survivor. A continuous annuity pays monthly installments for the life of the retired worker, and also provides a smaller continuing annuity for the worker's spouse or other survivor after the worker's death. A joint and survivor annuity pays monthly benefits as long as the retired worker is alive, and then continues to pay the worker's spouse for life.Category: Personal Finance & Retirement → Retirement Planning
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- annuity
-
A fixed income, receivable for the life of the recipient or a specified period, which is secured by the payment of a capital sum. Pensions from retirement annuity contracts and personal pension schemes are usually paid as annuities.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- annuity
-
n. A fixed sum paid out at regular intervals for a certain period of time and subject to limitations set by the grantor. For example, a person may be entitled to fixed and periodic payments for the rest of his life once he reaches a certain age.See also life estate, trust.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- annuity
-
A right to receive periodic payments, usually fixed in size, for life or a term of years that is created by a contract or other legal document.
Dictionary from West's Encyclopedia of American Law. 2005.
- annuity
-
A right to receive periodic payments, usually fixed in size, for life or a term of years that is created by a contract or other legal document.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- annuity
-
n.1) an annual sum paid from a policy or gift.2) short for a purchased annuity policy which will pay dividends to the owner regularly for years or for life.
Law dictionary. EdwART. 2013.
