Definition of annuity

annuitynoun

niên kim

/əˈnjuːəti//əˈnuːəti/

The word "annuity" originates from the Latin word "annuum," which means "year." In ancient Rome, an annuity was a regular payment made at the beginning of each year to a retiree or a pensioner. This ensured a steady income for life, free from the risk of outliving one's assets. In the 15th century, the concept of an annuity evolved in Europe, where it referred to a financial contract where a person or institution would pay a lump sum or periodic payments to another party for a set period, usually for life. The term "annuity" became widely used in the 17th and 18th centuries in the context of insurance and finance, particularly with the development of life insurance and investment policies. Today, an annuity is a financial instrument that provides a steady income stream to the policyholder, often for life, in exchange for a lump sum or periodic payments.

namespace

a fixed amount of money paid to somebody each year, usually for the rest of their life

một số tiền cố định được trả cho ai đó mỗi năm, thường là cho đến hết cuộc đời của họ

Example:
  • She receives a small annuity.

    Cô ấy nhận được một khoản tiền hàng năm nhỏ.

a type of insurance that pays a fixed amount of money to somebody each year

một loại bảo hiểm trả một số tiền cố định cho ai đó mỗi năm

Example:
  • income from pensions, annuities and trusts

    thu nhập từ lương hưu, niên kim và quỹ tín thác