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English definition of “annuity”

annuity

noun [C] uk   /əˈnjuː.ə.ti/ us    /-t̬i/
a fixed amount of money paid to someone every year, usually until their death, or the insurance agreement or investment that provides the money that is paid: an annuity policy annuity income She receives a small annuity.Trusts and funds
(Definition of annuity from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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