What is another word for annuity in advance?
Pronunciation: [ɐnjˈuːɪti ɪn ɐdvˈans] (IPA) 
An annuity in advance is a financial agreement in which a payment is made at the beginning of each period rather than at the end. This type of annuity is also called a pre-paid annuity or an immediate annuity. Other synonyms for this term include present annuity, ordinary annuity, annuity due, and advance annuity. These annuities are often used for retirement planning, where the annuitant pays a lump sum in exchange for a guaranteed income stream for life. An annuity in advance differs from an annuity in arrears, where the payment is made at the end of each period, such as a regular pension payment.
