A large life insurer is offering customers another living benefit rider.

AXA Equitable Life Insurance Company, New York, a unit of AXA S.A., Paris, says it is adding a 6.5% roll-up benefit for contracts with certain guaranteed minimum income benefit and guaranteed minimum death benefit riders.

The new roll-up is in addition to the company’s existing 6% roll-up benefit

The addition means that contract holders can withdraw up to 6.5% or 6% of the GMIB benefit base from the money in an annuity’s underlying investment account and still keep the benefit base level, even if the account does not perform well, AXA Equitable says.

AXA Equitable also is offering the GMIB with the annual re-set feature as a stand-alone benefit that is separate from the contract’s guaranteed minimum death benefit option.

AXA Equitable is responsible for backing the product guarantees.