immediate annuity

Definition of "immediate annuity"
  1. A type of annuity that is bought with a single payment and which starts giving benefits within the first payment interval, often within a year
How to use "immediate annuity" in a sentence
  1. After retiring, the senior decided to invest in an immediate annuity to ensure a regular income.
  2. The financial consultant advised that an immediate annuity may provide a steady income stream soon after purchase.
  3. Having established an immediate annuity, the individual was confident about their finances for the upcoming year.

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