NU Online News Service, March 10, 2005, 3:00 p.m. EST

Allianz Life Insurance Company, Minneapolis is offering a guaranteed minimum income benefit as part of its USAllianz New York variable annuities.[@@]

It is distributing the product through an affiliate, USAllianz Investor Services LLC. The new option will feature a 5% guaranteed annual increase on purchase payments.

Allianz says the product is part of its larger effort to increase its VA sales in the New York market.