How can life insurance and annuity products be used to create a steady stream of cash disbursements

Question:

How can life insurance and products be used to create a steady stream of cash disbursements and payments so as to avoid either the payment or receipt of a single lump sum cash amount?

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...