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Annuity vs Installments - What's the difference?

annuity | installments |

As nouns the difference between annuity and installments

is that annuity is 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 for example, a retirement annuity paid to a public officer following his or her retirement while installments is .

annuity

English

(wikipedia annuity)

Noun

(annuities)
  • 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. For example, a retirement annuity paid to a public officer following his or her retirement.
  • The right to receive such an income.
  • The duty to make such a payment or payments.

    • Derived terms

    * annuitant

    Related terms

    * perpetuity

    installments

    English

    Noun

    (head)