Transamerica introduces new RILA with optional income features

On Monday, Transamerica introduced TSIA Income, a new registered index-linked annuity (RILA) designed to help individuals create protected lifetime income while remaining connected to market opportunity and maintaining flexibility as retirement needs evolve.

As responsibility for retirement income continues to shift to individuals, many Americans are looking for ways to turn savings into predictable, reliable payments, the insurer said in a news release. TSIA Income is designed to help address this challenge by providing guaranteed lifetime income, offering a dependable stream of payments while still allowing for flexibility and continued participation in market opportunities.

“Today’s retirees want confidence their income can last, along with flexibility as their needs evolve,” said Liza Tyler, head of annuity solutions at Transamerica. “As more Americans recognize the value annuities can offer in helping turn savings into protected income, TSIA Income represents the next evolution of Transamerica’s annuity offerings—combining protected lifetime income with added flexibility that gives people greater control over when income begins and how they plan ahead.”

As an added benefit, Transamerica now offers Performance Lock+ at no additional cost on all new and existing Transamerica registered index‑linked annuity (RILA) contracts, the release said. Performance Lock+ provides added flexibility by allowing clients to lock in Index Account Option gains during a Crediting Period and move those gains into a Performance Lock Account, helping to protect progress along the way.

Clients also have monthly opportunities, prior to the Allocation Anniversary, to re‑enter their original Index Account Option, giving advisors and investors greater control as market conditions and goals evolve.

TSIA Income offers multiple ways to tailor how and when lifetime income begins, including:

A no-explicit-fee-income option

TSIA Income includes a no explicit fee RILA income option, designed for investors who want protected lifetime income in a cost-efficient way. Income can begin immediately or be deferred, with Rider Withdrawal Percentages that automatically increase over time based on age — regardless of market conditions. If retirement goals change, investors can redirect assets towards growth and protection instead.

An optional Step-Up feature

For investors seeking the opportunity to build higher future income, TSIA Income offers an optional Step‑Up feature. With Step‑Up, if the Policy Value is higher than the current Withdrawal Base at the time of the Step‑Up, the Withdrawal Base is reset to equal the Policy Value. This can help increase future withdrawal amounts by combining market participation with increasing deferred Rider Withdrawal Percentages. Step‑Up is available for an additional fee.

An optional Additional Death Benefit

TSIA Income also offers an optional Additional Death Benefit, available for an additional fee and elected at issue, designed to help support legacy goals. The ADB allows beneficiaries to receive an additional death benefit amount based on rider earnings, providing an opportunity to leave more to loved ones while maintaining a focus on lifetime income.