An insurer will be selling an income planning feature to a variable annuity aimed at the clients of registered investment advisors.
The Ameritas Advisor Services division at Ameritas Life Insurance Corp., a unit of UNIFI Mutual Holding Company, Lincoln, Neb., is adding a guaranteed lifetime withdrawal benefit to the Ameritas No-Load Variable Annuity.
Ameritas issues the annuity, and an affiliate, Ameritas Investment Corp., underwrites the annuity.
Advisors can use the new rider to help clients establish a guaranteed source of retirement income, Ameritas says.
Ameritas Life is responsible for backing the product guarantees.