Pacific Life Insurance Company has introduced the Guaranteed Minimum Distribution II Rider.

Pacific Life, Newport Beach, Calif., is selling the rider along with some of its variable universal life insurance policies.

Insureds must buy the rider when they are 65 or younger.

For insureds who have the rider, Pacific Life will offer to provide annual distribution guarantees based on a policy’s accumulated value.

There is a no-lapse guarantee while the rider is in effect, and a re-set feature can help increase distributions, according to Pacific Life.

Pacific Life is responsible for backing the rider guarantees.