NU Online News Service, Jan. 10, 2005, 4:48 p.m. EST

A Northbrook, Ill., insurer is offering several new riders to purchasers of its variable annuities.[@@]

The insurer, Allstate Corp., says its new SureIncome rider is designed for purchasers of its Advisor annuities who are near retirement and who want to protect their principal. The option also allows owners to withdraw of up to 8% of their principal per year, the company says.

Another new Advisor VA rider, which Allstate calls the TrueReturn rider, guarantees that on a date chosen by the investor, the annuity will have a value no less than the value of the principal that the investor started with, even if the value of the investment has fallen below the guarantee amount.

Allstate also is offering an Income Protection Benefit Option with Advisor. The option provides the investor with a guaranteed minimum level of income for life. Investors can elect to add the benefit when they begin taking income from the annuity, for an added mortality and risk charge.

Still another new rider is a Spousal Protection Benefit, which provides a death benefit for both an individual retirement account owner and spouse as coannuitants under a single contract. Allstate is offering the benefit only with a traditional, Roth, simplified employee pension or custodial IRA.