An annuity is a product that can provide you with a lifetime income, typically on retirement. You pay a lump sum to an insurance company and in return receive regular payments for an agreed period. With a life annuity, you would receive payments for the rest of your life whereas with a deferred annuity, your insurer will not start giving you money until either a specified later date, or when you reach a certain age.
Merryn Somerset Webb interviews Paul Hodges about deflation, the global economy's 'Great Unwinding', and how Britain's house prices could halve.
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Adolf Hitler came to power on this day in 1933 following a political gamble that went disastrously wrong, and allowed the Nazi leader to call fresh elections.