An annuity company is rolling out two living benefit riders for its top variable annuity.

The riders are available with the Allianz Vision deferred variable annuity, says Allianz Life Insurance Company of North America, Minneapolis, a unit of Allianz S.E., Munich.

The living benefit riders previously available with the annuity were pulled from the product in late March, Allianz says.

The new riders, now approved in 39 states, provide retirement income guaranteed for life, and both offer the potential to increase income in varying market conditions through annual payment increases, the company says.

The Income Protector rider provides a lifetime income benefit with a guaranteed growth rate and annual anniversary payment increases based on positive contract value performance, says Allianz.

The Investment Protector rider provides an accumulation benefit that protects assets and locks in 95% annual gains and incorporates a life-cycle investment strategy, says the company.

Both riders are available at additional cost. For Income Protector, the current cost at policy issue is 1.05% to 1.20% of benefit base depending on the “lifetime plus payment” selected. For Investment Protector, the current cost is 0.80% of target value. The company says these charges can change but are subject to maximums.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life, the company says.