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.
Financial historian Russell Napier talks to Merryn Somerset Webb about the next deflationary bust – why it's coming, what it means for you, and how you can survive it.
More from MoneyWeek
|How to buy and sell penny shares|
|A beginner's guide to investing in gold|
|How to invest in British fracking|
After the restoration of the monarchy, members of the 'Invisible College' asked King Charles II to approve their scientific and literary society on this day in 1660.