Word forms: (present) annuitizes, (past) annuitized, (perfect) annuitized, (progressive) annuitizing
( Insurance : Life insurance , Pensions )
Retirees should annuitize a portion of their nest egg at retirement, in order to provide a guaranteed, inflation-adjusted
supplement to their social security.
On retirement, if you annuitize your account, the insurance company makes a payment on a regular basis for as long
as you live.
If you annuitize a lump sum payment, you convert it into a regular income such as a pension or annuity.
Collins English Dictionary. Copyright © HarperCollins Publishers