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Annuity

An Annuity is a financial product that you buy, you then receive a specific amount of money at regular intervals for a set period of time.

A basic example – you buy a $500,000 annuity and receive 3% interest guaranteed per year for 30 years.  You also forfeit the principle amount if you die before the end of the 30 years or live beyond the 30 years.

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