CD Annuity(redirected from Certificate of Deposit Annuity)
An instrument that combines features of an annuity and a certificate of deposit. Like a fixed annuity, it gives the annuitant a series of payments each month for the duration of the annuity. Like a CD (and unlike many fixed annuities), the return is guaranteed for the entire life of the instrument. In other words, a CD annuity gives a return similar to a CD, though it is structured like an annuity.