Transamerica Debuts a New Low-Cost Variable Annuity
Transamerica announces the availability of the Transamerica Advisory AnnuitySM, an innovative, lowcost, variable annuity offered and issued by Transamerica Life Insurance Company.
The Transamerica Advisory Annuity offers investors these benefits:
- Lower costs – average annual fees are more than 70 percent lower than the most recent industry average shown by Morningstar, Inc. as of December 2018.
- Choice of death benefits – policy value or return of premium.
- Access to policy value with no surrender charges.
- A menu of 26 diverse investment options.
- Comfort in knowing their annuity is issued by a highly-rated insurance company.
“Variable annuities allow consumers to invest on a tax-deferred basis as they work toward the goal of creating a steady stream of income during retirement. We recognize that many Americans are focused on financial security right now. Variable annuities can be an excellent vehicle for helping to create future retirement security, as a complement to or substitute for other retirement savings accounts,” said Joe Boan, Senior Managing Director, Wholesale Distribution and Marketing of Individual Solutions for Transamerica.
“For those investors who are focused on their retirement future, we have a team of annuity specialists ready to discuss all aspects of the Transamerica Advisory Annuity, and they can assist in setting up accounts and potential transfers of assets. They can provide customers with the information they need to make an educated decision and are ready to assist with implementation.”
As a pioneer in the advisory annuity space, Transamerica is proud of its 30-year legacy established through a distribution relationship with one of the largest asset managers in the world. Transamerica serves investors directly as well as through the fee-based advisor and Registered Investment Advisor communities.
The Transamerica Advisory Annuity, the next generation in the evolution of advisory annuities, offers a diverse menu of 26 investment options, including 18 portfolios managed by Vanguard and eight portfolios managed by Dimensional Fund Advisors. Policy owners can choose among investment portfolios, including seven index portfolios, that generally invest in stocks, bonds, money market instruments, or a combination of the three.
To learn more about the Transamerica Advisory Annuity, please call (866) 799-6442, or visit www.transamerica.com. The Transamerica Advisory Annuity is not available in New York.
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2019, Transamerica fulfilled its promises to customers, paying more than $50 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica’s corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2019, Aegon managed over $1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.
About the Transamerica Advisory Annuity
The Transamerica Advisory Annuity has an average expense ratio of 0.52% versus the annuity industry average of 2.24% excludes fee for optional riders. Actual expense ratios for the Transamerica Advisory Annuity range from 0.39% to 0.93% depending on the investment allocation. The expense ratio includes an administrative fee of 0.10% and a mortality and expense risk fee of 0.17% the expense ratio excludes additional fees that would apply if the Return of Premium death benefit rider is elected. The mortality and expense risk fee for Return of Premium is 0.47%. In addition, contracts with balances under $25,000 are subject to a $25 annual maintenance fee.
Morningstar, Inc.’s industry average is provided as of December 2018, the latest figure available as of this press release date.
You should consider a variable annuity’s investment objectives, risks, charges, and expenses carefully before investing. Please call 866-799-6442 for prospectuses containing this and other information. Read it carefully.
All guarantees are based on the claims-paying ability of the issuing insurance company. Financial strength ratings are associated to the insurance company and not specifically to the products the insurance company offers.
Annuities issued in all states except New York by Transamerica Life Insurance Company, Cedar Rapids, Iowa. Annuities are underwritten and distributed by Transamerica Capital, Inc. 1801 California St., Suite 5200, Denver, CO 80202. FINRA member.
All policies and forms may vary by state, and may not be available in all states. ICC19 TPVA11IC-0819, ICC19 TRMD12IC-0819, TRMD1200-0819 and TPVA11FL-0819.
The preceding information should not be considered to be, and does not constitute, personalized investment advice. It is intended for educational and informational purposes only. The Transamerica Advisory Annuity is a direct response variable annuity that cannot be purchased based on the advice or recommendation of Transamerica or other financial professionals.