The Advanced Life Deferred Annuity is a retirement option that offers longevity insurance at a lower cost than traditional annuities. By using numerical optimization, researchers found that this annuity can provide a significant amount of protection against outliving your savings. It is shown to be more favorable than immediate or postponed annuitization, as well as managing unannuitized wealth effectively. This annuity could be a beneficial default option in retirement plans for many households.