perpetuity
n.n. a state that lasts forever or for a very long time. In business, it often refers to a type of investment that pays you money every year for the rest of your life.
n. a state of being or a condition that continues indefinitely. In a financial context, it refers to a type of investment or annuity that provides a fixed income for the lifetime of the recipient.
The company bought a bond that pays interest in perpetuity.
The charity received a donation that will provide a steady stream of income in perpetuity to support its local projects.
While many investors prefer the security of a fixed-term bond, others seek the stability of an annuity that offers a guaranteed income in perpetuity, regardless of market fluctuations.
From Middle English perpetuitee, perpetuite, perpetuyte, from Old French perpetüité, ultimately from Latin perpetuitās.