The domestic annuity unit of Prudential Financial Inc., Newark, N.J., has upgraded a variable annuity optional living benefit that guarantees a 5% income stream every year for life.

Prudential Annuities announced the enhancement to its benefit, known as the Highest Daily Lifetime Five, which it launched in November 2006.

HD Lifetime Five allows annuity owners to increase their annuities’ income potential every day the market is open–up to 250 times a year for the first 10 years or until the first withdrawal, whichever is earlier.

The new enhancements, available March 19, include a guaranteed minimum account balance, which allows owners to receive a guaranteed minimum account value on the 10th anniversary of the benefit effective date, regardless of market performance, provided no withdrawals are taken during the first 10 years.

Prudential is also offering an enhanced protected withdrawal value option, which provides contract owners who have not made any withdrawals before the tenth anniversary with an additional value upon which to base their lifetime withdrawals. The benefit becomes available on the tenth anniversary of the contract.