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February 27, 2007 at 11:43 AM
Old Mutual Financial Network has introduced the Beacon Navigator flexible-premium variable annuity.
Old Mutual, Atlanta, a unit of Old Mutual P.L.C., London, will be selling the contract through independent managing general agents, the company says.
Annuity purchasers can buy an account protection package that will give annuitants and their spouses a guaranteed minimum withdrawal benefit of 5% per year.
The package also will increase the death benefit 5% per year, until the death benefit is twice as big as the original death benefit, Old Mutual says.
