annuityan·nu·i·ty /əˈnjuːətiəˈnuː-/ noun (plural annuities) [countableC]1INSURANCE the right to regular future payments bought from an insurer. Many people buy an annuity to provide income for them when they stop workingThey have put most of their life savings intoannuity contracts.
2the payments from an annuity contractHer annual annuity is $50,000.
→ deferred annuity → immediate annuity → joint annuity