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February 01, 2007 at 12:28 PM
Guardian Insurance & Annuity Company has introduced the Lifetime Focus variable annuity rider.
The GIAC rider guarantees a minimum amount of benefit withdrawals, according to GIAC’s parent, Guardian Life Insurance Company of America New York.
Purchasers of the new rider may be able to increase the amount of contract value protected each quarter for the first 30 contract years; roll the protected value up 5% during a year in which no withdrawals are made; and invest account value in portfolios that invest as much as 80% of their assets in stock, rather than bonds, Guardian says.
Guardian notes that consumers purchased earlier GIAC Lifetime and Spousal AssetAccess riders with about 55% of GIAC annuities sold during the fourth quarter of 2006.
