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Definition of annuity noun from the Oxford Advanced American Dictionary

     

    annuity

     noun
    noun
    NAmE//əˈnuət̮i//
     
    (pl. annuities)
     
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  1. 1a fixed amount of money paid to someone each year, usually for the rest of their life She receives a small annuity.
  2. 2 a type of insurance or investment that pays a fixed amount of money to someone each year income from pensions, annuities and trusts
See the Oxford Advanced Learner's Dictionary entry: annuity