Answer:
An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.
Explanation:
an annuity is a type of retirement income product that you buy with some or all of your pension pot. it pays a regular retirement income either for life or for a set period. (hope this is a decent answer lol)
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