Terms Used In CFR > Title 7 > Subtitle B > Chapter I > Subchapter C > Part 75 > Miscellaneous

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.