deferred annuity
noun[C]
ukusINSURANCE
anannuity(=yearlypayment)in which aninsurancecompanydoes notbeginmakingpaymentsuntil anagreeddate:
Writingdeferredannuitiesforschemememberswho are still intheirtwentiesandthirtiesishighlyriskyforinsurersthat havetroublefindingassetsto back them up.