/ əˈnjuːəti; NAmE -ˈnuː-/ noun ( pl. -ies )
1.
a fixed amount of money paid to sb each year, usually for the rest of their life
2.
a type of insurance that pays a fixed amount of money to sb each year
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WORD ORIGIN
late Middle English : from French annuité , from medieval Latin annuitas , from Latin annuus yearly, from annus year.