To expand on Aganju's answer, what you are describing is closer to a lifetime mortgage + annuity.
With an annuity, you pay an upfront lump sum amount to purchase a guaranteed future income until your death. This is very much the reverse of a typical life insurance contract (term assurance) because it insures you against living too long (i.e. becoming destitute in old age).
A lifetime mortgage (also called equity release) is a way to unlock the value in your assets (i.e. your home) which will be repaid on your death (or sometimes when you need long term care). If you take out a lifetime mortgage, the insurer will make a lump sum payout now and will recoup the value (plus interest) from the property that the mortgage is secured against. This isn't exactly the same as taking it from your estate but it's functionally very similar.
So, if you took out a lifetime mortgage and used this to buy an annuity you would pay nothing immediately, the insurer would pay you a fixed amount for every year that you lived and when you died (or entered long term care) the insurer would claim the original lump sum (plus interest) from the value of your property.
Obviously nothing I'm saying here is meant to imply that this is a sensible thing to do, but I think it's pretty close to what you are asking.