fixed annuity

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fixed annuity

n.
An annuity in which payments to the annuitant are unchanging over a specified period or over the annuitant's lifetime.
References in periodicals archive ?
Many found protection under flexible, tax-deferred variable and fixed-dollar annuities.
For individual investors, the most common annuities are fixed-dollar annuities, guaranteeing repayment of invested principal plus interest; and variable annuities, which pay based on the capital appreciation of a portfolio.