Annuity In Advance (Noun)
Meaning
An annuity paid in a series of more or less equal payments at the beginning of equally spaced periods; "rent payable in advance constitutes an annuity in advance for the landlord".
Classification
Nouns denoting possession and transfer of possession.
Examples
- The landlord receives an annuity in advance from the tenant in the form of monthly rent payments due on the first day of each month.
- Rent payable in advance constitutes an annuity in advance for the landlord, providing a steady stream of income.
- The insurance company pays an annuity in advance to the policyholder, with payments made at the beginning of each quarter.
- The annuity in advance is a popular option for retirees, as it provides a predictable income stream at the start of each month.
- A lease agreement that requires rent payments at the beginning of each month creates an annuity in advance for the property owner.