Q: We are in our late 70s. Our pensions and Social Security give us enough to live on comfortably. We have no children or siblings. Our nearest relatives are cousins whom we have not seen or been in contact with for many years. As a result we would like to leave our estate equally to our college alma maters. A friend’s son is an insurance broker, and he suggested some type of combined annuity and life-insurance policy that will give us some added income and leave a substantial amount to the colleges. It sounds like a pretty good deal for us to get extra income (icing on our cake) and still leave a good deal to our designated heirs. What’s your opinion?