NU Online News Service, April 20, 2004, 5:11 p.m. EDT – Manulife USA, Boston, has introduced the Triple Protection Rider for use with its Venture family of variable annuities.[@@]
Account holders who buy the rider get 3 layers of protection.
One layer is a “graded death benefit” option that starts by guaranteeing the contract’s purchase payments. When a customer makes a payment, the payment will increase the death benefit by 10% of the amount of the payment for the first 5 years after the payment is made.
A second layer of protection, an “annual step-up” option, will lock in the highest contract value on any contract date through age 80.