Suppose my age is X, and I have Y dollars in cash. I want to give them to an insurance company, or another financial institute, in exchange for a monthly income (pension) of Z for the rest of my life. What is a reasonable estimate for the Z I can get, as a function of X and Y?
I understand that the sum may depend on the specific insurance company, but I am looking for a general estimate of how much I can expect to get. What I found so far is this page, which gives an estimate for the case when the age is 65. It looks similar to the "4% rule", which says (if I understand correctly), that at age 65, I can expect to get about 4% of Y per year, which means Z = Y/300 per month.
Probably, if X>65 I can get more than 4%, and if X<65 I can get less; how much exactly?