contingent annuity

Definition

An annuity arrangement in which the beneficiary does not begin receiving payments until a specified event occurs. A contingent annuity may be set up to begin sending payments to a beneficiary upon the death of another individual who wishes to ensure financial stability for the beneficiary, or upon retirement or disablement of the beneficiary.

Use contingent annuity in a sentence

You should try and get a good contingent annuity if you want to make sure that you have money on a certain day.

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There was contingent annuity and it was a very good arrangement because they would not get money until a specified event occurs.

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There was a contingent annuity clause that we had some issues hammering out but otherwise things went ahead smoothly in the negotiations.

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contingent contingent beneficiary