1. The process of converting a lump sum of money or an asset into an annuity, typically to provide regular income payments over a specified period or for life.
Usage: chiefly British English; American English typically uses 'annuitization'; finance and insurance term

Examples

• The annuitisation of her pension fund provided her with a steady monthly income in retirement.
• Many retirees consider annuitisation as a way to guarantee income security.
• The insurance company explained the benefits of annuitisation to the client.
• Annuitisation converts a large sum into predictable, regular payments.
• After annuitisation, she received fixed payments for the rest of her life.