reversionary annuity

Also found in: Thesaurus, Financial.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.reversionary annuity - an annuity payable to one person in the event that someone else is unable to receive it
annuity, rente - income from capital investment paid in a series of regular payments; "his retirement fund was set up to be paid as an annuity"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
First, there is a product that is sometimes called a reversionary annuity. It is like ordinary life insurance except there is no lump sum payment.
A reversionary annuity can be the solution for impaired risk as well as standard risk cases.
On a more technical level Clark defines types of early insurance--contributorships, mortuary tontines, premium insurance and reversionary annuity companies--and chronicles the growth of such landmark businesses as the Royal Exchange Assurance Corporation and London Assurance Corporation at the beginning of the eighteenth century, the Equitable Society of mid-century and the Westminster and Pelican which appeared at century's end.
Stalwart Assurance attempts to avoid this by offering a reversionary annuity home income plan, which does not involve a mortgage.