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 insurance company to be paid an amount of money regularly) for which the payment amount remains the same for the period of the annuity:

At the moment, most retired people who want to top up their Social Security income prefer to buy fixed-rate annuities.

See also

(Definition of “fixed annuity” from the Cambridge Business English Dictionary © Cambridge University Press)