Meaning of “joint annuity” in the English Dictionary

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"joint annuity" in Business English

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joint annuitynoun [ C ]

uk us

FINANCE a type of annuity (= a fixed amount of money paid to someone every year) in which money is paid to two people, usually a husband or wife, while both are still alive, and to one person after the death of the other:

The annuity rate remains unchanged for all male, female, and joint annuities.

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