Deferred nominal life annuity

A monthly fixed-dollar payment beginning at retirement age. It is nominal because the payment is fixed in a dollar amount at any particular time, up to and including retirement.

Deferred Nominal Life Annuity

An annuity that one may purchase where one receives a fixed dollar amount each month for the remainder of one's life, following retirement. It is deferred because the annuitant does not begin to receive payments immediately and nominal because the fixed dollar amount is not adjusted for inflation.

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