NU Online News Service, May 4, 2004, 11:32 a.m. EDT – Peoples Benefit Life Insurance Company, Cedar Rapids, Iowa, is updating The Advisor’s Edge no-load variable annuity.[@@]
Peoples, a unit of AEGON N.V., The Hague, Netherlands, is adding 4 subaccounts to the annuity and 3 death benefit options.
Fidelity will be managing a new mid cap subaccount and a small-cap value subaccount. Capital Guardian Trust Company will be managing a large-cap value subaccount and a large-cap value subaccount.
Customers who are interested in death benefits can choose between a return-of-policy-value option, a return-of-premium option or an annual step-up option.
The annual step-up option, which is available to annuitants through age 75, adjusts the death benefit to reflect gains in VA policy value.