fixed annuity Meaning in the Cambridge English Dictionary
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Meaning of “fixed annuity” in the English Dictionary

"fixed annuity" in Business English

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fixed annuitynoun [C]

uk   us   (also fixed-rate annuity) INSURANCE
an annuity (= ​contract someone ​agrees with an ​insurancecompany to be ​paid an ​amount of ​moneyregularly) for which the ​paymentamount remains the same for the ​period of the ​annuity: At the moment, most ​retiredpeople who want to ​top up their Social Security ​income prefer to ​buy fixed-rate ​annuities.
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(Definition of fixed annuity from the Cambridge Business English Dictionary © Cambridge University Press)
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