26 lines
677 B
Markdown
26 lines
677 B
Markdown
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<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-5-chapter-03 -->
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# Annuities for Lives
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## Definition
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Financial instruments that provide regular payments for the duration of
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specified individuals' lives, commonly used by governments to borrow money
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by selling the right to receive annual payments while the annuitant lives.
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## Source Chapter
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Book V, Chapter 3
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## Context
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Smith examines annuities for lives as one method of government borrowing,
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noting their popularity in France and explaining why they are less attractive
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to English merchants who prefer perpetual annuities.
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## Economic Domain
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Regulation
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---
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