A new variable annuity minimum withdrawal benefit feature can let guaranteed VA income increase in years when the owner takes withdrawals.

AIG SunAmerica Retirement Markets Inc., Los Angeles, a unit of American International Group Inc., New York, says the new MarketLock Income Plus feature will lock in an investor’s gains, or an annual income credit of up to 7%, whichever is greater.

If an investor takes a withdrawal, such as a 5% withdrawal, this percentage would be deducted from the 7% annual income credit on the next contract anniversary, AIG SunAmerica says.

For investors who do not take withdrawals during the first 10 contract years, the minimum floor for retirement income is equal to 200% of eligible first-year investments.

Annual income credits may be available for up to 15 years.

The feature can lock in the effects of market gains on income until the investor is at least 85, AIG SunAmerica says.

The cost of the feature is 0.95% of the income base for a single life and 1.2% of the income base for a joint life arrangement.

AIG SunAmerica Life Assurance Company is responsible for backing the product guarantees in most states.

First SunAmerica Life Insurance Company, New York, backs the guarantees in New York.