Annuity

byPaytm Editorial TeamLast Updated: December 12, 2025

Meaning

An Annuity is a financial product that gives you regular payments for a fixed period or for life.

Definition

It is an agreement where you invest money once, and the insurer pays you steady income later, usually after retirement.

Types

  • Immediate annuity
  • Deferred annuity

Importance

Annuities help ensure a stable income during retirement.

You May Also Like

Central Sector SchemeNovember 1, 2025

Meaning Definition “Central Sector Scheme” refers to initiatives fully funded and implemented by the Central Government. These schemes…

Term LoanLast Updated: December 12, 2025

Meaning A Term Loan is a type of loan that must be repaid over a fixed period through…

NPCI MapperLast Updated: July 11, 2025

Introduction NPCI Mapper is a database system that links users’ mobile numbers to their bank accounts for UPI…

Peer-to-Peer (P2P) TransferLast Updated: July 11, 2025

Introduction Peer-to-Peer (P2P) Transfer is a UPI payment between two individuals for personal reasons like rent, gifts, or…