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 obtain regular disbursements beginning either immediately or at some point in the future.
L45.6 "I must confess, Richard, I am worried that the bank will no longer honour the princess's promissory note' Defn: A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms, Wikipedia. This pic - Promissory Note written by Josiah Bartlett, 1772.
Story: How The Finance Industry is Adapting to Consumer Needs - by Melissa Thompson - If there is one thing that we've learned from the economic collapse of 2008, it's that financial instruments can no longer be geared to benefit businesses at the expense of consumers. For the middle class American, financial instruments have to be structured as tool that can help consumers put... #Finance