The Phoenix Companies Inc. has introduced a deferred variable annuity with a living benefit rider that can guarantee income for a surviving husband or wife.[@@]
Phoenix, Hartford, says the company's new Lifetime Guaranteed Minimum Withdrawal Benefit for 2 rider is the only deferred VA income guarantee rider that can switch benefits to a surviving spouse.
Phoenix also is introducing a more conventional version of the rider, the Lifetime GMWB rider, which guarantees a lifetime income stream for 1 person.
