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Annuity: meaning, definitions and examples

๐Ÿ’ฐ
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annuity

 

[ ษ™หˆnjuหษชti ]

Noun
Money matters
Context #1 | Noun

finance investment

An annuity is a financial product that provides a series of payments made at equal intervals. It is commonly used for retirement planning, where individuals can convert a lump sum of money into a stream of income over a specified period, often for the rest of their lives. Annuities can be structured in various ways, including fixed, variable, or indexed. They may also include provisions for beneficiaries. The primary purpose of an annuity is to mitigate the risk of outliving one's savings.

Synonyms

insurance product, investment, pension.

Examples of usage

  • She invested in an annuity for her retirement.
  • The annuity payments will start next year.
  • He chose a fixed annuity for stability.
  • An annuity can help manage retirement income.

Translations

Translations of the word "annuity" in other languages:

๐Ÿ‡ต๐Ÿ‡น anuidade

๐Ÿ‡ฎ๐Ÿ‡ณ เคตเคพเคฐเฅเคทเคฟเค• เคญเฅเค—เคคเคพเคจ

๐Ÿ‡ฉ๐Ÿ‡ช Rente

๐Ÿ‡ฎ๐Ÿ‡ฉ anuitas

๐Ÿ‡บ๐Ÿ‡ฆ ะฐะฝะฝัƒั–ั‚ะตั‚

๐Ÿ‡ต๐Ÿ‡ฑ renta

๐Ÿ‡ฏ๐Ÿ‡ต ๅนด้‡‘

๐Ÿ‡ซ๐Ÿ‡ท rente

๐Ÿ‡ช๐Ÿ‡ธ anualidad

๐Ÿ‡น๐Ÿ‡ท hayat sigortasฤฑ

๐Ÿ‡ฐ๐Ÿ‡ท ์—ฐ๊ธˆ

๐Ÿ‡ธ๐Ÿ‡ฆ ู…ุนุงุด ุณู†ูˆูŠ

๐Ÿ‡จ๐Ÿ‡ฟ anuita

๐Ÿ‡ธ๐Ÿ‡ฐ anuita

๐Ÿ‡จ๐Ÿ‡ณ ๅนด้‡‘

๐Ÿ‡ธ๐Ÿ‡ฎ anuiteta

๐Ÿ‡ฎ๐Ÿ‡ธ รกrlegur greiรฐslur

๐Ÿ‡ฐ๐Ÿ‡ฟ ะฐะฝะฝัƒะธั‚ะตั‚

๐Ÿ‡ฌ๐Ÿ‡ช แƒแƒœแƒฃแƒ˜แƒขแƒ”แƒขแƒ˜

๐Ÿ‡ฆ๐Ÿ‡ฟ illik

๐Ÿ‡ฒ๐Ÿ‡ฝ anualidad

Etymology

The term 'annuity' comes from the Latin word 'annuitas', which means 'annual' or 'yearly'. The root 'annus' translates to 'year', pointing to the fact that annuities typically involve yearly payments. The concept of annuities dates back to ancient Rome, where they were used in the form of 'contracts of exchange'. Throughout the centuries, various forms of annuities have evolved, with significant development during the Middle Ages in Europe when they were often used for funding churches and other institutions. By the 19th century, modern annuity contracts began to take shape in England, and they gained popularity as a means of providing a reliable income for the elderly. In contemporary finance, annuities are structured by insurance companies and are commonly utilized for retirement planning and wealth distribution.

Word Frequency Rank

At #6,186 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.