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English definition of “deferred annuity”

deferred annuity

noun [C]    
INSURANCE an annuity (= yearly payment) in which an insurance company does not begin making payments until an agreed date: Writing deferred annuities for scheme members who are still in their twenties and thirties is highly risky for insurers that have trouble finding assets to back them up.
(Definition of deferred annuity noun from the Cambridge Business English Dictionary © Cambridge University Press)
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