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

"immediate annuity" in Business English

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immediate annuitynoun [C]

uk   us  
INSURANCE, FINANCE an ​arrangement with an ​insurancecompany in which you ​pay them one large ​sum of ​money and then they immediately begin ​paying you ​regularamounts each month: Immediate ​annuitiesoffer a ​secure way to shore up your ​retirementincome.
(Definition of immediate annuity from the Cambridge Business English Dictionary © Cambridge University Press)
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