National Security Life and Annuity Company has introduced the NScore Value variable annuity contract.
Purchasers need not pay an initial sales charge, and the mortality and expense charge will be 0.%, according to National Security, Binghamton, N.Y.
The investment menu offers asset-allocation options and about 60 other options.
Optional living benefits and death benefit riders can provide 5.5% dollar-for-dollar withdrawals for holders in some age groups, National Security says.
The cost of guaranteed minimum income benefits will range between 0.5% and 0.65% of account value, the company says.
National Security is responsible for backing the product guarantees.