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Is there a way to self annuitize one's investment?

I've looked at fixed income annuities straight life, and guaranteed 10 year payouts. Is there a way one can buy private term life insurance cheap enough to allow a straight life annuity with the first 10 years covered by term life insurance? I'm hoping the self purchase of term life insurance will give me a better monthly payout than the 10 year guarantee annuity by the annuity company.

Public Comments

1. build out a moderate conservative allocation, fully diversified, and drawdown no more than 4-5% per year. You'll be fine. Thats all the annuity company is doing for you, except they get charge wonderful fee's for the privelege.
2. Interesting question. When it comes to immediate annuities there are costs for additional guarantees. Based upon your age/gender the term insurance, although probably the least expensive vehicle, will probably cost more than what you are looking to do. You need to determine which is the most important factor. Income or Guarantee. To maximize your income level, life only is the best, you will pay for the 10yr guarantee. Best thing to do is shop around. Every company offers these products, see which reputable company gives you the most income.