What does annuity contract mean?

annuity contract meaning in Law Dictionary

agreement that defines an annuity program. The sheer number of repayments therefore the amount paid is with this. Along with the begin and end date and brands of parties involved.

annuity contract meaning in Business Dictionary

arrangement that defines the type and terms of an annuity program. It usually specifies the amount and quantity of payments, states the payback beginning time, and names the annuitant together with beneficiary.