NU Online News Service, March 7, 2005, 4:51 p.m. EST
A Lansing, Mich., insurer has changed a guaranteed minimum withdrawal benefit feature.[@@]
The insurer, Jackson National Life Insurance Company, a unit of Prudential P.L.C., London, is selling the GMWB option, the LifeGuard 5 benefit, with its new Perspective L Series flexible-premium deferred variable annuity.
The underlying annuity is Jackson National’s first “L-share” variable annuity contract.