/euh nooh"i tee, euh nyooh"-/ , n. , pl. annuities .
1. a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
2. the right to receive such an income, or the duty to make such a payment or payments.
[ 1400-50; late ME annuité, annualté annuitas, equiv. to L annu ( us ) yearly (deriv. of annus year) + -itas -ITY ]