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Identify/define and explain the significance of the following: Royal Society of London.
Deferred Annuity
An insurance product that provides future payments to the holder, typically starting after a designated period.
Ordinary Annuity
Repetitive uniform payments that are conducted after each term within a set timeframe.
Deferred Annuity
An insurance product that allows for the postponement of income payments until the investor elects to receive them.
Ordinary Annuity
A series of equal payments made at regular intervals, with the payment period typically matching the interest period.
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