Life insurance / home collateral?

I know a married couple who retired with insufficient savings.  They sent their family an invitation to inherit the house on their death in return for an annuity.  Something like that could pay for life insurance although it is pretty pointless.  The only beneficiaries would be your heirs and it would be easier just to leave them the house in your will.

My story had an interesting ending.  One of their relatives agreed to do this out of kindness.  The couple both died unexpectedly within 5 years so the house went to the sponsor after what turned out to be a very small outlay.  Everyone else in the family was furious.

I don't think this could be done, but get a good accountant/ financial planner and they could simply send the insurance company a regular check using the equity in the home.  You could also just send them a check yourself.

Your question isn't very clear. Are you trying to ask how you can buy a life insurance policy but use the equity in your home (instead of cash) to pay the premiums?

There is no such financial product that combines those two things, but you can do them in 2 separate steps.

First you must get a loan that pays you cash based on the equity in your home. That could be a home equity line of credit (HELOC), a home equity loan (HEL) or a reverse mortgage. You can look up the differences online, but all 3 are loans that pay you money in exchange for a lien against your home.

Then, you can use the money from that loan to pay the premiums for a life insurance policy.

The life insurance company is a life insurance company.

They do not want to be in the residential real estate business.

If you would like your heirs to have the house when you pass, just give them your house.  They can sell it, keep it, whatever they want with it.

Are you trying to ask how you pay premiums for a life insurance policy to benefit "she" without having to pay cash for the premiums?   Probably not going to happen.

But if you have a house and you need cash to pay insurance premiums, you could consider a reverse mortgage.