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

UPI Transaction SettlementLast Updated: October 21, 2025

Definition UPI Transaction Settlement is the process of transferring funds from the payer’s bank to the recipient’s bank…

National Health Mission (NHM)Last Updated: January 29, 2026

Meaning The National Health Mission (NHM) is a government initiative strengthening public health services across India. Definition Full…

IRDAINovember 10, 2025

Meaning IRDAI plays a vital role in regulating and developing India’s vast insurance landscape.Definition IRDAI stands for the…

BeneficiaryLast Updated: August 19, 2025

Meaning A Beneficiary is the person or entity who receives money or benefits from a transaction, insurance, or…

UPI ChargesLast Updated: July 16, 2025

Definition UPI Charges refer to the fees that may be applied to certain UPI transactions, especially commercial or…

Cash CreditLast Updated: November 14, 2025

Meaning Cash Credit is a short-term loan provided by a bank to businesses to meet working capital needs.…