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Home : Fixed Annuities : Select Index 500
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Select Index 500SM
Safety and Growth
The Select Index 500SM annuity from Transamerica Occidental Life Insurance Company is
a single premium equity indexed deferred annuity that provides the safety of a fixed annuity with
the potential for increased interest earnings based on the performance of the Standard & Poor's® 500
Composite Stock Price Index (S&P 500® Index).1
When you purchase the Select Index 500 annuity, you make a one-time payment and can choose to
allocate your funds between a guaranteed interest account and an equity indexed account.
Features:
- Minimum single premium of $2,000 for qualified and $10,000 for non-qualified funds.2 The maximum
premium payment accepted without prior approval from Transamerica Occidental Life Insurance Company is $1,000,000.
- Guaranteed 1.5% minimum interest rate for the guaranteed interest account.
- A ten-year surrender charge schedule in most states (9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1% of amount withdrawn).
Call your Transamerica representative for state-specific surrender charge schedules.
Surrender charge-free withdrawals are available through the following options3:
- Beginning in the second policy year, you can withdraw up to 10% of the policy value as of the prior policy anniversary.
- Minimum Required Distribution – For tax-qualified plans, partial withdrawals taken to satisfy minimum required distribution
requirements with respect to this policy under the Internal Revenue Code.
- Nursing Care and Terminal Condition Withdrawal Option – Beginning in the second policy year, the owner or the owner's
spouse (annuitant or annuitant's spouse if the owner is not a natural person) is confined to a hospital or nursing facility
for 30 consecutive days, or is diagnosed as having a terminal condition. Minimum distribution is $1,000. (Not available in all jurisdictions.)
A Transamerica representative can help explain all the details of the Select Index annuity and how it can meet your needs.
1 "Standard & Poor's®", "S&P®", "S&P 500®", "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Transamerica Occidental Life Insurance Company. The Product is not sponsored, endorsed, sold, or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the Product.
2 There is no additional tax deferral benefit derived from placing tax-qualified funds into an annuity. Features other than tax deferral should be considered in the purchase of a qualified annuity.
3 Under current federal tax law, amounts withdrawn or distributed may be subject, in whole or in part, to federal income tax. In addition, a 10% federal income tax penalty may apply to distributions made prior to age 59 1/2.
Select Index 500SM (Policy Form #AS736 107 98 803) is a single premium equity indexed deferred annuity issued by Transamerica Occidental Life Insurance Company, Cedar Rapids, IA. Policy form and number may vary, and this product may not be available in all jurisdictions. Not available in New York. This product does not purchase shares of stocks or shares of a stock index fund.
Select Index 500SM is designed as a long-term retirement savings vehicle. If the annuity is terminated before the end of the company-imposed surrender charge period, the value may be less than the original premium. You should consider a different product with more liquidity for some or all of your money if you anticipate a future need to access the funds prior to the end of the surrender charge period.
04-5540-1
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