In the US, an annuity which guarantees payments to an annuitant which are fixed for life or a... <a target=_blank href='http://www.finance-glossary.com/terms/fixed-annuity.htm?id=565&ginPtrCode=00000&PopupMode=false' title='Read full definition of fixed annuity'>more</a>
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An annuity that provides payments of a set amount for the recipient's life or some other specified term.Compare: variable annuity
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