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annuity

Pronunciation: [əˈnjuːɪti]

Word

Learn how to use annuity in a sentence: 6 audio examples across 2 meanings.

Context: “finance”

(noun) a financial product that pays you money regularly for a certain period, often until you die. It's like having money that comes to you every month, almost like a paycheck, after you put in a sum of money first.

Example

My grandma receives an annuity that gives her money every month to help with her living expenses.

Example

She doesn’t have an annuity, so she needs to find another way to save for retirement.

Example

What is an annuity, and how does it work?

Context: “insurance”

(noun) a type of insurance agreement where you pay money in, and then you get payments back later, usually for life. It helps people feel secure in their old age because they know they will have money coming in.

Example

After many years of payments, he finally started receiving his annuity checks each month.

Example

Without an annuity, she worries about having enough money when she stops working.

Example

How can an annuity help with financial planning for retirement?

How to pronounce annuity

Pronunciation: [əˈnjuːɪti]

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