deferred annuity
noun[C]
ukusINSURANCE
anannuity(=yearlypayment)in which aninsurancecompanydoes notbeginmakingpaymentsuntil anagreeddate:
Writingdeferredannuitiesforschemememberswho are still intheirtwentiesandthirtiesishighlyriskyforinsurersthat havetroublefindingassetsto back them up.
 This example is from Wikipedia and may be reused under a CC BY-SA license.
This example is from Wikipedia and may be reused under a CC BY-SA license.