1. to convert a lump sum of money into a series of regular payments (an annuity) over a specified period or for life
Usage: finance/insurance term; transitive verb

Examples

• She decided to annuitize her retirement savings to receive monthly income for life.
• Many lottery winners choose to annuitize their winnings rather than take a lump sum.
• The insurance company will annuitize your pension plan starting next year.
• He annuitized $500,000 of his investment portfolio to create a steady income stream.
• Retirees often annuitize a portion of their assets to guarantee income security.