NU Online News Service, Feb. 23, 2004, 9:45 p.m. EST – Minnesota Life Insurance Company, St. Paul, Minn., says it now feels comfortable offering a variable annuity income guarantee option.[@@]
The insurer has introduced a guarantee option for its MultiOption Advisor variable annuity. The option increases the value of the benefits that Minnesota Life will guarantee at least 5%.
If the value of an annuity is up more than 5% on an anniversary, then customers who buy the income guarantee option can lock in the anniversary value.