The annuities unit at Prudential Financial Inc. has added a variable annuity living benefit rider that can double the contract holder’s annual income if the holder needs long term care.

The rider, available with Prudential’s Highest Daily Lifetime Seven with Lifetime Income Accelerator contract, will increase annual income whether the investor is living at home or in a qualified nursing facility.

Customers can qualify for the added income if they are either unable to perform 2 or more activities of daily living or are confined to a qualified nursing facility.

Prudential, Newark, N.J., says its HD Lifetime Seven annuity locks in an investor’s investment gains daily. It is an optional living benefit that offers a protected withdrawal value based on 7% annual compounded growth on the highest daily account value in the annuity. The option is available for the first 10 years after an annuity’s purchase, or until the purchaser’s first withdrawal, whichever is sooner.

HD Lifetime Seven with Lifetime Income Accelerator is designed to provide extra income when an investor’s health changes and is not meant to be a substitute for long term care insurance, Prudential says.