Charles Schwab has introduced two new variable annuities that are among the lowest cost in the industry. The Schwab Genesis Variable Annuity™ is offered directly to Schwab clients and the Schwab Genesis Advisory Variable Annuity™ is available through independent Registered Investment Advisors (RIAs) who custody assets with Schwab Advisor Services. Both products are offered in collaboration with Protective Life Insurance Company and have base annuity fees 40% to 75% below the industry average. The new products offer a broad line-up of 63 professionally managed investment portfolios from 12 different fund families, including the Schwab S&P 500 Index Portfolio, which has a total annual operating expense of 0.03%. In addition, Genesis annuities have no surrender charges and offer optional income and death benefit protection for an additional cost. SecurePaySM Life, a guaranteed lifetime withdrawal benefit (GLWB) rider, is designed to lock-in gains annually and provide guaranteed income for life. An optional death benefit can provide purchase payment protection for loved ones regardless of how the market performs.