In essence, an annuity is a contract between you and an insurance company. You make a lump-sum payment or a series of payments, and in return, the insurer agrees to provide you with a stream of income, either immediately or at a future date. This income stream can be for a specific period or for the rest of your life.

What is a Mortgage Protection Plan? A mortgage protection plan, often referred to as mortgage protection insurance (MPI), is a type of....