annuity

/əˈn(j)uɪti/

IPA: /AH0 N UW1 AH0 T IY0/

noun
  1. 1

    A right to receive amounts of money regularly over a certain fixed period, in perpetuity, or, especially, over the remaining life or lives of one or more beneficiaries.

Source: https://en.wiktionary.org/wiki/annuity