Allianz Adds Income Guarantee To VA Contract

NU Online News Service, Dec. 4, 9:18 a.m. – USAllianz Investor Services L.L.C., Minneapolis, has responded to the stock market slump by adding an income guarantee to its USAllianz Rewards variable annuity.

The feature assures contract purchasers that the value of the contract's income and death benefit will be based on the greatest of the current contract value, a guaranteed 5% annual increase on purchase payments, or the highest contract anniversary value.

Contract holders who buy the guarantee option can withdraw income payments over a period as short as 10 years, USAllianz says.