- Types:
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annuity in advance
an annuity paid in a series of more or less equal payments at the beginning of equally spaced periods
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ordinary annuity
an annuity paid in a series of more or less equal payments at the end of equally spaced periods
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reversionary annuity, survivorship annuity
an annuity payable to one person in the event that someone else is unable to receive it
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tontine
an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
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rent
a payment or series of payments made by the lessee to an owner for use of some property, facility, equipment, or service
