NU Online News Service, Nov. 6, 2003, 12:28 p.m. EST – Transamerica Life Insurance Company, Cedar Rapids, Iowa, has introduced the Guaranteed Principal Solution Rider, a variable annuity rider that combines three different guarantee options.
The rider lets purchasers choose between a principal protection accumulation benefit, a 7% principal back withdrawal benefit, and a 5% For Life withdrawal benefit, Transamerica Life says.
Purchasers who are at least 60 years old can switch between the withdrawal guarantees at any time.