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Integrity Life Offers GMWB Option With VAs

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Integrity Life Insurance Company has introduced a living benefit rider for holders of 2 of its variable annuities.

The new Guaranteed Lifetime Income Advantage option offers a guaranteed minimum withdrawal benefit along with a flexible choice of investments, according to Integrity, Cincinnati, a unit of Western & Southern Financial Group.

The rider is offered with AnnuiChoice and Pinnacle VAs. It guarantees annual withdrawal amounts from day 1. If the market does well, holders can increase the guaranteed withdrawal balance by deferring withdrawals.