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immediate annuity
im·me·di·ate an·nu·i·ty (plural im·me·di·ate an·nu·i·ties)


noun 
Definition:
 
U.K. annuity with immediate payment: an annuity whose payments begin less than one year after it is bought
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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