contingent annuity

contingent annuity definition - business

contingent annuity

A series of payments scheduled to begin at the time of a specified event. For example, an individual's death may set in motion an annuity payable to a designated person or organization.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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