| 单词 | annuity |
| 释义 | annuity A contract by which a financial institution such as an insurance company agrees to provide a regular income for life. The name annuity arises from annual payments, but the payments can in fact be of any agreed frequency. The recipient will be a named person; it is also possible to contract for full or reduced payments for life to surviving spouses or other dependents. The payments may be fixed in money terms, or index-linked. Annuities enable the recipients to spend their capital as well as their income without the danger of running out of funds before they die. |
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