Definition of annuitize in English:

annuitize

(also annuitise)

verb

  • See annuity

    • ‘VAs are sold to people who don't want the death benefit, don't want to annuitize and don't understand it's illiquid.’
    • ‘Only about 1% of variable annuities are ever annuitized.’
    • ‘By annuitizing income, Social Security is forcing people to take something they do not need, rather than giving them something that the market fails to provide.’
    • ‘Once your contract is annuitized, part of each payment (from a fixed annuity) is considered a partial return of the basis (your contribution) and part is taxable income using an exclusion ratio.’
    • ‘Once you select monthly payments (or annuitize) from your contract, the insurance company will guarantee you (and your spouse, should you desire) the income payment for the rest of your life.’
    • ‘After retirement, she can annuitize it and receive monthly benefits if she wants to, or she can pull out a lump sum.’