Which product creates an immediate estate?

An annuity is a financial product that provides a series of payments over time, typically used for retirement income. It does not create an immediate estate, as it is designed to distribute funds gradually rather than as a lump sum upon death. Therefore, while beneficial for income, annuities do not serve the purpose of establishing an estate instantly.

A savings program focuses on accumulating funds over time, encouraging regular deposits to build savings. However, it does not provide an immediate payout upon death, and the estate created relies on the account balance at that time, which may not be significant. Hence, it lacks the immediacy that life insurance offers.

Long-term care insurance is designed to cover the costs of care for individuals with chronic illnesses or disabilities but does not pay out a death benefit. It focuses on preserving assets during the insured's lifetime rather than creating an estate for heirs after death, making it ineffective for the purpose of establishing an immediate estate.