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﹒A fixed sum of money paid to someone each year, typically for the rest of their life.
﹒A form of investment or insurance policy that provides a series of payments at regular intervals.
﹒The retiree decided to invest her savings in an annuity to ensure a steady monthly income for the rest of her life.
﹒Before signing the contract, he carefully reviewed the terms of the annuity to understand the payout structure.
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