The question basically deals with the issues of revocability and bequest motive--both of which are large issues when it comes to annuities.

The short answer is that there are many products and product options that effectively address revocability and bequest motives.

The longer answer is that it completely depends on: a) the type of annuity that you have or are considering, and; b) any "riders" or additional features the annuity might have that can address your concern.

For example, guaranteed living benefits can address such concerns if you have a variable annuity.

There are also product options that come into play with fixed annuities, single premium immediate annuities, etc.

I will move this thread to the discussion forum if you would like to provide info on the annuity type and discuss further.  The discussion thread can be found here: http://www.annuitydigest.com/forum/bequest-motive-and-annuity-purchases