Deferred Life Annuity question

[madcityacct]

Hello great mustache forum!

Question regarding a Deferred Annuity funding a ROTH IRA account my DW's father opened for her >10 years ago. 

What is it? 
What can be done with it?

Thanks in advance!

[twinge]

More info is needed to  answer your question.  Basically, a deferred annuity is a way to provide an income stream at a point in time that you choose (it could have been chosen already--it depends on the product).  In a Roth IRA  I guess that would mean the income stream won't be taxed. But as to whether it's fixed/variable is something that needs to be added to each year etc. that's all dependent on the specifics of what you have set up.

[Lagom]

I have been pondering asking about the so-called longevity annuities that I've seen popping up in a few personal finance articles. Does anyone have any experience/thoughts on them? In Theory, they actually seem potentially smart investments.

I would be willing to pay $50,000 at 45 for $100k/year guaranteed income for the remainder of my life after 85 (to use an example from a Metlife brochure). Seems like a great deal, really, especially given that the odds are increasingly favorable that I'll live a fair number of years longer than that.