Show definition of an annuity A common definition for an annuity is a periodic payment to continue during a given status this status usually is the duration of a S single ingle life annuities are not insurance su rance but insurance provisions 0 often are included the person who receives receive the In income corrie from an annuity 1 is known it as the annuitant it if n annuity Is bought on two or more lives the contract usually is a joint and survivor annuity this means ieans n that income from the annuity continues as long as any of the persons covered by the contract survive although the amount of the payment often decreases at the death of one A joint annuity strictly speaking is an annuity that ceases on the first death among the lives involved |