Guardian Life Insurance has announced that it has launched a number of enhancements to its guaranteed minimum withdrawal benefit rider called Lifetime Focus.

The rider’s new features can help meet the needs of investors who want their retirement savings to benefit from market upside potential with built-in lifetime withdrawal guarantees that will not decline so long as certain conditions are met.

The new enhancements on the Lifetime Focus guaranteed minimum withdrawal benefit (GMWB) rider will be available with variable annuities issued by The Guardian Insurance & Annuity Company (GIAC), a wholly owned subsidiary of The Guardian Life Insurance Company of America.

Lifetime Focus was designed to help retirees generate a guaranteed withdrawal amount to supplement retirement income. The new enhancements, which include an increase in roll-up amounts, younger age availability, and an increase in the maximum roll-up, will make it easier for clients to increase the rider balance that is used to determine the guaranteed withdrawal amount and build more income for their retirement.

Peggy Coppola, senior vice president of GIAC, said: We are committed to helping retirees and pre-retirees, including small business owners and their employees, take the steps that will make it easier for them to live comfortably in retirement. Guardian’s variable annuities are designed largely to meet concerns about longevity and inflation risks.