| 单词 | annuity |
| 释义 | annuity annuity1. A contract in which a person pays a premium to an insurance company, usually in one lump sum, and in return receives periodic payments for an agreed period or for the rest of his or her life. An annuity has been described as the opposite of a life assurance as the policyholder pays the lump sum and the insurer makes the regular payments. Annuities form the basis for private pensions in most developed countries. See alsoannuity certain; deferred annuity. annuity certain An annuity in which payments continue for a specified period irrespective of the life or death of the person covered. In general, annuities cease on the death of the policyholder unless they are annuities certain. |
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