NU Online News Service, April 29, 2004, 1:12 p.m. EDT – GE Financial, Richmond, Va., has introduced the GE Guaranteed Income Advantage variable annuity rider.[@@]
An annuity holder can use the income rider to guarantee that variable annuities will pay a guaranteed income stream once the holder retires.
A GE Financial affiliate, GE Life and Annuity Assurance Company, is backing the annuity and selling it along with the Choice, Freedom and Selections variable annuities.
GE Financial will be selling the rider through broker-dealers and independent financial advisors as well as its own producers, the company says.
GE Financial is a unit of General Electric Company, Fairfield, Conn.