Throughout history, annuities have been used to reward people for exceptional accomplishments. Though it is not the focus when medals and awards are handed out, many come with an annuity for the recipient.

Medals with accompanying annuities were often awarded for military service; the British army was known to have issued the Distinguished Conduct Medal, along with an annuity, to officers presiding over a winning battle in wars with multiple national participants, and another annuity medal, the Meritorious Service Medal, was awarded monthly to selected officers attaining certain bounty requirements. Annuity medals were also issued as part of war memorial annuity funds.

Military service was not the only means through which people could earn annuity medals, however. In fact, distinguished service in many areas of social work, such as teaching or hospital/medical service, could earn deserving achievers an annuity medal. The medals were often used to reward those whose contributions to society were deserving of recognition.

Annuity Museum has a collection of medals and other souvenirs that have been awarded, together with annuities, in order to recognize meritorious service.