If you like to increase the amount you leave to your beneficiaries, you could consider this approach used by one of our older clients.
This lady born on the 19th July 1921, bought a $159,861 non registered life annuity on the 12th of January 2011, commencing monthly paymnets of $859 on February 1, 2011.The annuity is guaranteed for 25 years and life which means that payments will continue to 2036 at least.
While our client does not expect to live until 115 years of age, the payout of approximately 6.5% per year will continue to a benficairy. Obviously shorter term guarantees and different annuity capital amounts will give different results.
This client has used her age to generate a better guaranteed and longer return for her neice. It also achieves perhaps helping to pay a mortgage.