There are a couple ways of accomplishing this. The free route requires you creating an outlook.com account.
After logging into the account, the platform will provide you a new email address and calendar, along with the web versions of Word, Excel, and PowerPoint. Also includes 5 GB of free cloud storage using OneDrive. The web versions are decent.
Outlook.com is the redesigned and updated version of Hotmail. If you have a Hotmail account, you can use it here. Microsoft redesigned and relaunched Hotmail as Outlook. Microsoft is committed to building the best free email and calendar.
If the cloud version is not what you want and you need a more traditional software program to install on your computer, the other alternative is to pay for it.
To be very clear, this is a home use product only. If you need a have a solution for your business, we would recommend getting the appropriate licensing necessary. Read more about business licensing here.
Contact us for more information about the annual subscription. All Microsoft licensing are now subscription based.