Annuity

{
  "id": "MLC-T-INS-000428",
  "term": "Annuity",
  "field": "Insurance and risk management",
  "definition": "A financial contract issued by an insurance company that provides a stream of regular payments over a specified period or for the lifetime of one or more individuals. Individuals typically purchase annuities to provide a guaranteed income during retirement. Payments can begin immediately (immediate annuity) or at a future date (deferred annuity).",
  "url": "https://mlchart.com/terminology/insurance/annuity/"
}