1. the process of converting a lump sum of money or an investment into a series of regular periodic payments (annuity), typically for retirement income.
Usage: finance and insurance term; commonly used in retirement planning contexts

Examples

• Many retirees choose annuitization of their 401(k) savings to guarantee steady income.
• The annuitization of her pension provided her with monthly payments for life.
• Financial advisors often discuss annuitization as one option for managing retirement funds.
• After annuitization, she received a fixed payment every month regardless of market conditions.
• The insurance company offered annuitization plans with different payout schedules.